Sovereign held steady at Rs 25,000 per piece of 8 grams on little doing.Gold prices today rose by Rs 150 to close at Rs 32,000 per 10 grams at the bullion market in the national capital, reported news agency Press Trust of India.
The yellow metal followed a firm trend overseas amid fresh buying by local jewellers.
Gold prices shot up on the back of a firm trend overseas amid increased buying by local jewellers at the domestic spot market, reported the agency citing traders.
Silver, on the other hand, fell by Rs 130 to close at Rs 37,750 per kg, owing to slackened demand from coin makers and industrial units.In Delhi, gold of 99.9 per cent and 99.5 per cent purities traded higher by Rs 150 each to Rs 32,000 and Rs 31,850 per 10 gm, respectively.
The precious metal had fallen by Rs 210on Wednesday."Gold prices are expected to remain under pressure for next 2-3 days as rupeehas shown a sharp recovery against dollarin last few days.
Government's announcement to infuse more funds into banking sector in order to enhance liquidity powered the currency on Thursday," saidGaurav Katariya, Research Head (Commodity), Arihant Capital Markets.Globally, gold prices edged higher on Thursday supported by a softer dollar and weakness in the equities market, after the US Federal Reserve delivered a less-dovish outlook on monetary tightening than many had expected, reported news agency Reuters.In a widely anticipated decision, the US central bank hiked interest rates by 25 basis points on Wednesday.
Spot gold rose 0.4 per cent to $1,248.48 per ounce in the intraday trade, after declining the most since November 27 in the previous session.Sovereign held steady at Rs 25,000 per piece of 8 grams on little doing.
Silver ready, however, traded lower by Rs 130 to Rs 37,750 per kg, while weekly-based delivery was down by Rs 175 to Rs 37,258 per kg.
Silver coins held steady at Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces.(With agency inputs)