Gold prices, spurted by Rs. 135 to Rs. 32,150 per 10 grams at the bullion market today on wedding season demand amid a firm trend overseas, reported.
Silver also traded higher by Rs. 250 to Rs. 38,150 per kg on the back of increased offtake by industrial units.
Traders said besides increased buying by jewellers in the wedding season, a firm trend in the overseas market, where weakness in the dollar raised the precious metal’s safe-haven appeal, pushed gold prices higher.
Know about gold, silver prices:
1. Gold rose as much as 1 per cent on Friday as the dollar fell after US Federal Reserve officials made cautions comments on the outlook for interest rate hikes, while palladium hit a record high driven by worries about short supplies, reported .
Spot gold rose 0.7 per cent to $1,221.60 an ouncein intraday trade. The session high was the highest since November 8 at $1,225.29. Gold has gained over 1 per cent so far this week, its best in five weeks.
2. In Delhi, gold of 99.9 per cent and 99.5 per cent purity traded higher by Rs. 135 each to Rs. 32,150 and Rs. 32,000 per 10 grams, respectively. The precious metal had tumbled Rs. 235 Friday.
3. Sovereign, however, remained steady at Rs. 24,800 per piece of 8 grams.
4. In line with gold, silver ready rose by Rs. 250 to Rs. 38,150 per kg and weekly-based delivery jumped Rs. 205 to Rs. 37,023 per kg.
5. On the other hand, silver coins remained flat at Rs. 73,000 for buying and Rs. 74,000 for selling of 100 pieces.