Gold Prices Up By Rs. 45 Due Increased Buying Ahead Diwali

New Delhi: Gold prices on Saturday surged by Rs. 45 to 132,270 per 10 grams at the bullion market in Delhi due to increased buying by local jewellers and positive cues from overseas markets.

In the National Capital, gold of 99.9% and 99.5% purity surged by Rs. 45 each to 132,270 and 132,120 per 10 grams respectively. The yellow metal had gained Rs. 195 on Thursday.

Following suit, Silver also shot up by Rs. 100 to 139,600 per kg due to increasing demand from coin makers ahead of Diwali festival on Novermber 7. Silver coins, however, held steady at 175,000 for buying and 176,000 for selling of 100 pieces.

Market analysts have opined that apart from a firm overseas trend, increased buying by local jewellers to meet festive season demand also led to a surge in gold prices in the domestic markets.

Globally, gold rose 0.10% to USD 1,227.50 an ounce and silver gained 0.41% to USD 14.70 an ounce in New York on Friday.

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