Gold rose by Rs 182 to Rs 45,975 per 10 gram in the national capital on Thursday following gains in the international precious metal prices, according to HDFC Securities. In the previous trade, the metal had closed at Rs 45,793 per 10 gram. Silver also witnessed increased buying and jumped Rs 725 to Rs 66,175 per kg from the previous close of Rs 65,450 per kg.
HDFC Securities Senior Analyst (Commodities) Tapan Patel said, "Spot gold prices
for 24 karat in Delhi were up by Rs 182 with gains in COMEX (New York-based commodities exchange) gold prices.
In the international market, Gold prices
hit their highest level in more than a month on Thursday as the dollar and U.S. yields dropped and the Federal Reserve's reiteration of its dovish policy stance also lifted bullion's appeal.
Spot gold was up 1.1% at $1,756.93 per ounce by 1419 GMT, having earlier hit its highest since March 1 at $1,757.82. U.S. gold futures gained 0.9% to $1,756.50.
"The dollar and U.S. yields are coming off and that's the key catalyst right now... a pretty unimpressive jobs number is also helping push gold higher," said Bob Haberkorn, senior market strategist, RJO Futures.
"And the fact that we're above $1,750, which is a key technical level, shows that gold has some legs to continue higher."
The dollar slipped to a more than two-week low, while benchmark Treasury yields eased, making gold more appealing compared with alternative investments like bonds.
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