Gold rate in India today: Continued buying by jewelers supported gold prices, say market observersNew Delhi: Gold prices jumped by Rs 300 per 10 grams to Rs 32,150 per 10 grams at the bullion market on Thursday, news agency Press Trust of India reported.Continued buying by jewelers supported gold prices despite the yellow metal easing off multi-week highs in the international market.
Brisk buying by local jewellers to meet retailer demand in the domestic spot market pushed up gold prices, marketmen said.
Silver also rose by Rs 240 per kilogram, reclaiming the Rs 40,000 per kilogram level on Thursday.Here are five things to know about gold and silver prices on Thursday:1.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity climbed by Rs 300 each to Rs 32,150 and Rs 32,000 per 10 grams, respectively.
Gold prices had firmed by Rs 500 in the past four sessions.2.
In line with gold, silver ready rose further by Rs 240 to Rs 40,000 per kg and weekly-based delivery rose by Rs 225 to Rs 39,000 per kg.3.
Silver coins too spurted by Rs 1,000 to Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.4.
Globally, gold prices eased off multi-week highs as minutes from the Federal Reserve's last policy meeting raised expectations of a faster pace of US rate hikes.
However, concerns about possible US military action against Syria limited losses.
After rising for four previous sessions, spot gold was down 0.2 per cent at $1,350.70 an ounce in recent trade.5.
All of the US central bank's policymakers felt that the American economy would firm further and that inflation would rise in the coming months, minutes of the Fed's last policy meeting on March 20-21 released on Wednesday showed.
Gold is often used as a store of value during times of financial or political uncertainty.
Higher interest rates discourage the buying of non-interest-paying bullion, which is priced in dollars.(With agency inputs)