Positive trend overseas and rise in demand from local jewellers led to upward movement in the prices of gold, said traders.
New Delhi: Gold prices surged by Rs 425 to Rs 33,215 per 10 gram in the national capital on Monday due to increased buying by jewellers amid firm trend overseas, according to the All India Sarafa Association.
Silver too rose by Rs 170 to Rs 38,670 per kg on increased offtake by industrial units and coin makers. Positive trend overseas and rise in demand from local jewellers led to upward movement in the prices of gold, said traders.
In the international market, spot gold was trading higher at USD 1,298.30 an ounce, while silver moved upward to USD 15.23 an ounce in New York. In the national capital, gold of 99.9 per cent and 99.5 per cent purity rose by Rs 425 to Rs 33,215 and Rs 33,045 per 10 gram, respectively.
On Saturday, the yellow metal had closed at Rs 32,790 per 10 gram. However, sovereign gold held steady at Rs 26,400 per eight gram. Silver ready advanced by Rs 170 to Rs 38,670 per kg, while weekly-based delivery gained Rs 594 to Rs 37,753 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.