Gold prices inched up by Rs 20 to Rs 29,530 per 10 grams at the bullion market here on Thursday on the back of increased demand.

Silver also rose by Rs 100 to Rs 54,000 per kg, ending a three-day losing streak.

Traders said sustained buying by retailer investors and a fall in rupee’s value against the dollar mainly influenced gold and silver prices.

They, however, added a weakening trend in global markets capped the gains.

Gold of 99.9 and 99.5 per cent purity advanced by Rs 20 each to Rs 29,530 and Rs 29,390 per 10 grams.

The metal had gained Rs 45 in last two sessions.

Sovereign continued to be asked around previous level of Rs 23,800 per piece of eight grams on limited deals.

In line with a general firming trend, silver ready recovered by Rs 100 to Rs 54,000 per kg and weekly-based delivery rose by Rs 190 to Rs 54,190 per kg.

The metal had lost Rs 600 in the previous three sessions.

Silver coins remained steady at Rs 61,000 for buying and Rs 62,000 for selling of 100 pieces.

Keywords: bullion market

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