Gold Prices Rise On Jewellers' Buying: Key Things To Know

Gold prices on Friday advanced by Rs 305 to Rs 32,690 per 10 gram in the national capital, reported Press Trust of India (PTI) quoting All India Sarafa Association. Increased buying by local jewelers led to the rise in gold prices, analysts were quoted as saying in the PTI report. Silver rates, meanwhile, rose by Rs 204 to Rs 38,450 per kg on more offtake by industrial units and coin makers. On Thursday, gold prices had declined by Rs 405 to Rs. 32,385 per 10 grams and silver rates had decreased by Rs 104 to Rs 38,246 per kg.

Here are 5 things to know about gold prices, silver rates:

1. In the national capital, gold of 99.9 per cent and 99.5 per cent purities gained by Rs 305 each to Rs 32,690 and Rs 32,530 per 10 gram, respectively. 

2. According to analysts, sentiment turned upbeat on the back of a pick-up in buying from local jewellers and retailers, thereby leading to a rise in gold prices. 

3. Similarly, sovereign gold advanced by Rs 100 to Rs 26,400 per eight gram.

4. The international bullion market, on the other hand, was closed on account of 'Good Friday'. On Thursday, gold prices were held steady at four-month low as a stronger dollar offset concerns over global economic growth after the release of weak manufacturing data out of Europe.

5. Silver rates surged by Rs 204 to Rs 38,450 per kg, while weekly-based delivery rose Rs 95 to Rs 37,230 per kg. On the other hand, silver coins held flat at Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces. 

(With inputs from agencies)