Gold prices rise, silver remains flat

New Delhi: Gold prices jumped by Rs550 to Rs71,600 per 10 grams in the national capital on Tuesday following strong demand from jewellers and firm global trends. In the previous trade, the precious metal had closed at Rs71,050 per 10 grams. Silver prices, on the other hand, remained flat at Rs84,500 per kg on Tuesday, according to the All India Sarafa Association. Meanwhile, gold of 99.5 per cent purity also bounced by Rs550 to Rs71,250 per 10 grams from the previous close of Rs70,700 per 10 grams. Traders attributed the rise in gold prices to fresh demand from local jewellers and a firm trend in the international markets.

Globally, Comex gold is trading higher at $2,432.90 per ounce, up by $7.40 per ounce from the previous close. Market experts said gold prices are stuck in a range ahead of policy meeting outcomes by the Bank of Japan and the US central bank.f 8,159 lots.