Gains in the domestic gold prices came despite a downward movement in the international market
Gold prices rose by Rs 350 in Delhi on Tuesday, a day ahead of Akshaya Tritiya festival. Gold prices in the national capital climbed by Rs 350 to Rs 32,350 per 10 grams in the national capital, news agency Press Trust of India (PTI) reported. Buying by local jewellers supported recovery in gold prices ahead of Akshya Tritiya at the domestic spot market, according to bullion traders. Silver too rebounded by Rs 400 to Rs 40,300 per kg on increased offtake by industrial units and coin makers. Gains in the domestic market came despite a downward movement in the international gold market, where prices fell on Tuesday as sharper appetite for risk benefited cyclical assets at bullion's expense. However, losses in the international gold market were capped by the dollar's slip to a three-week low against a basket of currencies.