Gold up Rs 140 on festive buying; firm global cues
Marketmen said, sentiment was upbeat largely backed by increased buying by local jewellers, driven by ongoing festive season and a firming trend overseas amid fresh weakness in the US dollar.
Globally, gold traded higher at USD 1,224.60 an ounce and silver at USD 14.66 an ounce in New York Thursday.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity rose further by Rs 140 each to Rs 32,120 and Rs 31,970 per 10 grams, respectively.
The yellow metal had risen Rs 330 in the previous two days.
Sovereign gold continued to be traded at previous level of Rs 24,600 per piece of eight grams.
Following the rise in gold, silver-ready spurted Rs 500 to Rs 39,500 per kg and weekly-based delivery rose Rs 435 to Rs 38,905 per kg.
Silver coins too were in good demand and traded notably higher at Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces as against previous level of Rs 73,000 and Rs 74,000, respectively.