New Delhi: Gold rose by Rs 150 to trade at Rs 32,650 per 10 gram at the bullion market on Monday, helped by increased buying by local jewellers and a firm global trend.
Silver also rallied by Rs 410 to end at Rs 40,010 per kg on rise in offtake by industrial units and coin makers. Bullion traders said gold got a boost following a pick-up in buying by local jewellers as well as retailers and a firming trend overseas, as a weak dollar raised appeal of the precious metal as a safe haven.
The dollar weakened on expectations that the US Federal Reserve might apply brakes on its monetary tightening cycle in 2019.
Globally, gold rose 0.33 per cent to USD 1,289.50 an ounce and silver by 0.54 per cent to USD 15.85 an ounce in New York. In the national capital, gold of 99.9 per cent and 99.5 per cent purities rallied by Rs 150 each to Rs 32,650 and Rs 32,500 per 10 gram, respectively.
The precious metal had lost Rs 190 in the previous session. Sovereign, however, remained flat at Rs 25,200 per piece of eight gram.
Meanwhile, silver prices gained 0.12 per cent to Rs 39,221 per kg in futures trade on Monday as participants increased bets amid firm global trend.
At the Multi Commodity Exchange, silver for delivery in March moved up by Rs 48, or 0.12 per cent, to Rs 39,221 per kg in a business turnover of 943 lots.
The white metal to be delivered in February also rose by Rs 27,or 0.07 per cent, to Rs 39,240 per kg in a business turnover of 10,911 lots.
Silver coins, however, remained unaltered at Rs 76,000 for buying and Rs 77,000 for selling of 100 pieces. (PTI)
