Gold price: Today it rose by Rs 60 to Rs 32,300 per 10 grams in Delhi.
New Delhi: Gold price continued their upward march for the fifth day, rising by Rs 60 to Rs 32,300 per 10 grams, reported Press Trust of India.
Higher global prices and increased buying by local jewellers helped support domestic gold prices.
Gold prices had gained Rs 260 in the previous four days.
Silver prices also rose today, gaining by Rs 200 to Rs 40,770 per kg, supported by increased offtake by industrial units and coin makers, according to the report.
The weakening of the rupee against the dollar makes imports of gold costlier.
Globally gold remained in a tight range after 10-year US bond yield rose back to the psychologically important 3 per cent mark, pushing the US dollar higher.In Delhi, gold of 99.9 per cent and 99.5 per cent purity moved up by Rs 60 each to Rs 32,300 and Rs 32,150 per 10 grams, respectively.Sovereign, however, remained flat at Rs 24,800 per piece of eight grams.Silver ready went up by Rs 200 to Rs 40,770 per kg while weekly-based delivery too rose by a similar margin to trade at Rs 40,070 per kg.
Silver coins too spurted by Rs 1,000 to Rs 76,000 for buying and Rs 77,000 for selling of 100 pieces.In global markets gold prices held steady today, remaining in a tight range.
Spot gold was nearly unchanged at $1,311.82 per ounce on Thursday.Analysts say a lot of counteracting forces are playing against gold because of which the precious metal is trading in a very tight range.
Rising geopolitical tensions in the Middle East, they say, added some safe-haven appeal to gold while a firm dollar and rising US Treasury yields were capping upside.
Higher US rates tend to boost the dollar and push bond yields up, adding pressure on greenback-denominated, non-yielding gold.
(With Agency Inputs)