Gold prices rise by Rs 70 on jewellers' buying

Gold prices on Thursday rose by Rs 70 to Rs 33,330 per 10 gram in the national capital on the back of fresh buying from jewellers, according to the All India Sarafa Association.

Tracking gold, silver also gained by Rs 50 to Rs 38,250 per kg on more offtake by industrial units and coin makers.

Traders said gold prices saw an uptrend due to rise in domestic demand. However, a weak trend overseas capped the gains.

Globally, spot gold was trading lower at USD 1,295.70 an ounce, while silver was down at USD 14.85 an ounce in New York.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity gained by Rs 70 each to Rs 33,330 and Rs 33,160 per 10 gram, respectively.

Sovereign gold, however held steady at Rs 26,500 per eight gram.