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Gold prices made a turnaround today after four days of losses, jumping Rs 150 to Rs 30,750 per 10 grams, on positive global cues and increased buying by local jewellers.
Silver too firmed up by Rs 400 to Rs 40,900 per kg due to higher demand from industrial units and coin makers.
According to traders, a firm trend prevailed overseas as the dollar weakened ahead of the US Federal Reserve’s interest rate decision later today.
Globally, gold rose 0.27 per cent to $1,314.30 an ounce and silver by 0.23 per cent to $17.31 an ounce in Singapore.
Besides, increased buying by domestic jewellers at the spot market to meet the festive season demand fuelled the uptrend.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity rose by Rs 150 each to Rs 30,750 and Rs 30,600 per 10 grams, respectively. The precious metal had lost Rs 400 in the previous four days. Sovereign, however, remained flat at Rs 24,700 per piece of eight grams.
In line with the overall trend, silver ready bounced back by Rs 400 to Rs 40,900 per kg and weekly-based delivery by Rs 530 to Rs 40,320 per kg. Silver coins, however, continued to be traded at the previous level of Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces.
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