Mumbai: Gold edged higher by Rs 50 per 10 grams at the bullion market in Mumbai on Thursday on sustained buying by jewellers.
Silver too spurted by Rs 270 per kg on strong demand from industrial units and coin makers. Standard gold (99.5% purity) rose by Rs 50 to conclude at Rs 28,850 per 10 grams from Wednesday’s closing level of Rs 28,800.
Pure gold (99.9% purity) also gained by a similar margin to end at Rs 29,000 per 10 grams against Rs 28,950 earlier. Silver (.999 fineness) jumped by Rs 270 per kg to finish at Rs 41,830 from Rs 41,560 on Wednesday.
Globally, gold prices held below a 3-week peak hit in the prior session, as the dollar recovered from seven-week lows and markets looked to see if US President Donald Trump could push through a healthcare bill. Spot gold was down 0.2% at $1,246.51 per ounce at early trade.
Also Read| Global gold prices below 3-week peak as dollar recovers, Trump policy in focus
On Wednesday, it touched its strongest since February 28 at $1,251.26. Spot silver rose 0.2% to $17.53.
