Gold prices rose by ₹180 to ₹32,850 per 10 gram at the bullion market in New Delhi on May 8 due to fresh buying from jewellers amid firm trend overseas, according to the All India Sarafa Association.
Tracking gold, silver too gained by ₹100 to ₹38,220 per kg following increased offtake by industrial units and coin makers.
Traders said sentiment turned bullish on the back of pick-up in buying support from local jewellers amid positive overseas trend as rising U.S.-China trade tension boosted gold’s safe-haven appeal.
Globally, spot gold was trading higher at $1,288.20 an ounce, while silver marginally rose to $14.99 an ounce in New York.
In the national capital, gold of 99.9% and 99.5% purity surged by ₹180 each to ₹32,850 and ₹32,680 per 10 gram, respectively.
Sovereign gold held steady at ₹26,400 per eight gram.
Meanwhile, silver ready rose by ₹100 to ₹38,220 per kg and weekly-based delivery declined by ₹228 to ₹37,106 per kg.
On the other hand, silver coins held flat at ₹79,000 for buying and ₹80,000 for selling of 100 pieces.