Gold Prices Rise By Rs 170, Silver Rates Inch Up By Rs 25: 5 Things To Know

Gold prices on Thursday rose by Rs 170 to close at Rs 32,120 per 10 gram at the bullion market in the national capital, reported news agency Press Trust of India (PTI). Higher demand during the ongoing wedding season from local jewellers coupled with positive global cues pushed the gold prices upwards, traders were quoted as saying in the PTI report. Silver rates also inched up by Rs 25 to close at Rs 37,625 per kg on slightly higher demand from industrial units and coin makers. On Wednesday, gold prices rose by Rs 100 to close at Rs 31,950 per 10 grams while silver ready fell by Rs 140 to Rs. 37,600 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 rose by Rs 170 each to close at 32,120 and Rs 31,970 per 10 gram, respectively. 

2. Sovereign gold also moved up by Rs 100 to Rs 24,900 per piece of 8 gram. 

3. Globally, gold traded higher at $1,238.40 an ounce in New York, while silver was also slightly up at $ 14.39 an ounce. A meeting of the Organization of the Petroleum Exporting Countries (OPEC) and US nonfarm payroll data expected on Friday are keeping gold investors on guard, reported news agency Reuters.

4. Similarly, silver ready rose by Rs 25 to Rs 37,625 per kg, while weekly-based delivery shot up by Rs 856 to Rs 37,250 per kg. 

5. Silver coins, however, held steady at Rs 73,000 for buying and Rs 74,000 for selling of 100 pieces. 

(With inputs from agencies)