Gold, shots up by Rs. 120 to Rs. 31,200 per 10 gram at the bullion market on Thursday due to increased buying by local jewellers amid a firm global trend, reported.
However, silver held steady at Rs. 38,300 per kg on scattered enquiries from industrial units and coin makers.
Traders said gold rose on increased buying by local jewellers to meet the ongoing festive season demand and a firm global trend.
Moreover, a depreciating rupee which plunged to a fresh record low of 70.82 against the dollar (intra-day), making imports costlier, supported the upmove, they said.
Things to know about gold, silver prices today:
1. Globally, gold prices inched lower on Thursday as the dollar firmed amid expectations of higher US interest rates, but the precious metal continued to hold above a key support level of $1,200, reported.
Spot gold was down 0.4 per cent at $1,202.02 an ounce in the early-day trade, while US gold futures were down 0.3 per cent at $1,207.80 an ounce.
2. In Delhi, gold of 99.9 per cent and 99.5 per cent purity rebounded by Rs. 120 each to Rs. 31,200 and Rs. 31,050 per 10 gram, respectively. It had shed Rs. 70 in yesterday’s trade.
3. Sovereign gold, however, remained flat at Rs. 24,500 per piece of eight gram.
4. On the other hand, silver ready held steady at Rs. 38,300 per kg, while weekly-based delivery edged up by Rs. 5 to Rs. 37,080 per kg.
5. Silver coins however continued to trade at previous level of Rs. 73,000 for buying and Rs. 74,000 for selling of 100 pieces.>