Bullion Market Closing: Gold Rises Rs 330, Silver Moves Up By Rs 730

Gold prices rose by Rs 330 to Rs 39,020 per 10 gram in the national capital on Tuesday in expectation of pick up in festive demand, according to HDFC Securities.

Tracking the movement in gold prices, silver also moved up Rs 730 to Rs 48,720 per kilogram. In the previous trade, it had closed at Rs 47,990 per kilogram.

Gold prices for 24 Karat had closed at Rs 38,690 per 10 gram in the bullion market here on Monday.

“Delhi spot gold price premium rose in expectation of better physical demand. Physical buying is likely to pick up once the pitrupaksh - shradh period will end on September 28,” said Devarsh Vakil, Head - Advisory (PCG), HDFC Securities.

In the international market, gold and silver prices were trading flat, with the yellow metal quoting at USD 1,522.60 an ounce in New York and the latter trading at USD 18.57 per ounce, it added.