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Gold prices rise to fresh high of ₹82,900 per 10 gram
Silver rates declined to ₹93,500 per kg from ₹94,000 per kg.
Gold prices rose ₹170 to hit a new record high of ₹82,900 per 10 grams in Delhi on Thursday, according to the All India Sarafa Association.
On the previous day, gold had closed at ₹82,730 per grams.
Gold of 99.5 per cent purity, too, appreciated by ₹170 to reach an all-time high level of ₹82,500 per 10 grams. In the previous trading session, the metal had settled at ₹82,330 per 10 grams.
Gold of 99.9 and 99.5 per cent purity grew ₹2,320 each in the last seven trading sessions.
Bullion traders have attributed the rise in the precious metal's prices to ‘heightened’ demand by jewellers and retailers, as well as a ‘strong trend’ in the international markets.
On the other hand, silver rates declined ₹500 to ₹93,500 per kg, for ₹94,000 per kg.
Gold and silver prices at MCX, Comex
Meanwhile, in Thursday's future trade, gold contracts for February delivery were up ₹19 or 0.02 per cent to ₹79,583 per 10 grams on the Multi Commodity Exchange (MCX).
On the other hand, silver futures declined to ₹91,522 per kg from Wednesday's close of ₹91,944 per kg, down ₹422 or 0.46 per cent.
In the overseas markets, Commodity exchange (COMEX) gold fell to $2,757.70 per ounce, down 13.20 per ounce or 0.48 per cent.
At $31.10 per ounce, silver Comex futures quoted 1.03 per cent lower in the Asian market hours.
Saumil Gandhi, Senior Analyst, Commodities at HDFC Securities told news agency PTI that gold prices were ‘weighed down by a recovery in the US dollar and Treasury yields.’
“The US Dollar index and Treasury yields traded up after the positive close in the previous session, which caps the further upside in gold and prompts some selling in the gold price on Thursday,” Gandhi added.
