NEW DELHI: Breaking a two-day decline, gold prices in Delhi rose by Rs 600 to Rs 1,24,700 per 10 grams on Thursday, amid fresh buying by bullion traders and strong global cues.
According to the All India Bullion Association, the precious metal with 99.5 per cent purity rose by Rs 600 to Rs 1,24,100 per 10 grams (inclusive of all taxes). On Tuesday, the metal had closed at Rs 1,23,500 per 10 grams. In the local bullion market, gold with 99.9 per cent purity had closed at Rs 1,24,100 per 10 grams in the previous session.
Silver prices rose by Rs 1,800 to Rs 1,53,300 per kg (inclusive of all taxes) on Thursday. On Tuesday, silver prices had closed at Rs 1,51,500 per kg. Bullion markets remained closed on Wednesday due to the holiday of Sri Guru Nanak Dev Ji's Prakash Purb (birthday of Guru Nanak). Globally, spot gold rose by Rs 28.96, or 0.73 per cent, to Rs 4,008.19 per ounce.
Spot silver rose by 1.22 per cent to Rs 48.60 per ounce. "Gold prices rose on Thursday on safe-haven demand and a slight decline in the US dollar. The ongoing government shutdown has become the longest in US history, and there is no end in sight," experts said.