Gold prices rise by ₹170, silver inches up

Mumbai-India (Dec 6)  Gold prices on Thursday rose by ₹170 to close at ₹32,120 per 10 gram at the bullion market in the national capital on increase in demand from local jewellers amid firm trend in the overseas market.

Silver rates also inched up by ₹25 to close at ₹37,625 per kg on slightly higher demand from industrial units and coin makers.

Traders said higher demand during the ongoing wedding season from local jewellers coupled with positive global cues pushed the gold prices upwards.

In the national capital, gold of 99.9% and 99.5% purities rose by ₹170 each to close at 32,120 and ₹31,970 per 10 gram, respectively.

Sovereign gold also moved up by ₹100 to ₹24,900 per piece of 8 gram.

Globally, gold traded higher at USD 1,238.40 an ounce in New York, while silver was also slightly up at USD 14.39 an ounce.

Similarly, silver ready rose by ₹25 to ₹37,625 per kg, while weekly-based delivery shot up by ₹856 to ₹37,250 per kg.

Silver coins, however, held steady at ₹73,000 for buying and ₹74,000 for selling of 100 pieces.

TheHindu