Extending its upward movement for the second straight day, gold prices on May 9 rose by ₹40 to ₹32,890 per 10 gram at the bullion market here due to increased buying from jewellers amid a firm trend overseas, according to the All India Sarafa Association.
Silver, however, stood steady at Wednesday’s level of ₹38,220 per kg.
Besides the rise in demand from local jewellers, sentiment remained upbeat due to the trade tensions between the U.S. and China ahead of crucial talks between the countries, boosting gold’s safe-haven appeal.
Trade talks are due to be held on May 9-10 in Washington between trade delegations headed by Chinese Vice Premier Liu He and U.S. Trade Representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin.
Globally, spot gold was trading higher at $1,284.70 an ounce, while silver stood steady at $14.90 an ounce in New York.
In the national capital, gold of 99.9% and 99.5% purity surged by ₹40 each to ₹32,890 and ₹32,720 per 10 gram, respectively.
Sovereign gold held steady at ₹26,400 per eight gram.
Silver ready held steady at ₹38,220 per kg, while weekly-based delivery gained by ₹339 to ₹37,445 per kg.
On the other hand, silver coins held flat at ₹79,000 for buying and ₹80,000 for selling of 100 pieces.
