Domestic gold prices rose on Tuesday after remaining mostly flat a day earlier. Gold prices edged up with a slight pullback in the US dollar, which makes the greenback-priced bullion less expensive for buyers holding other currencies.

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On MCX, yellow metal prices reeled 0.25 percent higher at Rs 53,640 per 10 grams around 12 pm on Tuesday. Meanwhile, silver rates were up nearly 0.6 percent at Rs 65,549 per kg. Globally, spot gold was up 0.4 percent at $1,775.69 per ounce as of 0224 GMT.

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The dollar index was down 0.2 percent in early trade. However, US Dollar Index Futures 0.11 percent, touching 105.358 around 12 pm. With this, the rupee opened 15 paise lower from its previous close at 81.94 versus the US dollar on Tuesday.

On Tuesday, global crude oil benchmarks rose after a G7 price cap on Russian seaborne oil came into force on Monday on top of a European Union embargo on imports of Russian crude by sea. Brent crude futures were up by 0.70 percent at $83.27 per barrel at the last count.

Also, Indian equity benchmarks BSE Sensex and NSE Nifty50 started the session lower on Tuesday amid weak global cues ahead of the RBI's MPC meet outcome.