On Tuesday it closed at Rs 78,100 per 10 grams.
Silver also jumped Rs 665 to Rs 93,165 per kg from Rs 92,500 per kg in the previous close.
Also, gold with 99.5 per cent purity rose by Rs 200 to regain its all-time high of Rs 77,900 per 10 gram. The metal had ended at Rs 77,700 per 10 grams on Tuesday.
the merchandise markets They were closed on Wednesday due to Mahatma Gandhi Jayanti.
Traders said sentiment improved with rising demand at the start of ‘Navratri’, an auspicious week in Hindu mythology for buying new things, particularly precious metals. “A possible surge in jewelery demand amid the peak festival season and a weak Indian rupee also helped the product in the domestic market,” said Hareesh V, head of commodities at Geojit Financial Services. Meanwhile, in future tradeGold contracts for December delivery declined by Rs 440 or 0.58 per cent to Rs 75,950 per 10 gram on the Multi Commodity Exchange (MCX).
However, silver rose by Rs 225 or 0.25 per cent to trade at Rs 91,600 per kg on the MCX.
In Asian trading hours, gold on Comex is trading 0.17 percent lower in US dollar 2,665.20 per ounce.
“Gold traded with a modest loss on Thursday, due to a rally in the US dollar and Treasury produce weighs on precious metals,” said Saumil Gandhi, senior commodities analyst at HDFC Securities.
Silver was trading 0.36 percent lower at $31.81 an ounce globally.
“The bullion market mood remained bearish on Thursday, as US stocks traded in the red on Wednesday, amid an escalation in the Middle East, suggesting that Israel is likely preparing for a response to Iran attacks, indicating that precious metal prices could still find support at lower levels.
“In addition, investors will monitor US employment data, including jobless claims, due later on Thursday, which could provide some direction for the yellow metal rates,” Maneesh Sharma, Assistant Vice President at Commodities and Currencies by Anand Rathi. Actions and Stock Brokers, he said.
Silver is still expected to outperform gold in the medium-term outlook, amid optimism around China’s aggressive stimulus measures garnering further support at lower levels of the base metals complex, Sharma added.
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