Gold price today: Yellow metal shoots up to Rs 32,300 on global cues, jewellers' buying

Extending gains for the fifth straight day, gold price on Thursday gained Rs 60 to Rs 32,300 per 10 grams at the bullion market on positive global cues and increased buying by local jewellers. Silver prices advanced by Rs 200 to Rs 40,770 per kg thanks to increased offtake by industrial units and coin makers.

The gains came following a firm trend overseas which turned the sentiment positive and back home, pick up in buying by jewellers to meet the ongoing wedding season demand. 

The depreciation in rupee also gave a push to gold prices as weakening rupee make imports of precious metals costlier. 

Globally, gold rose by 0.18 per cent to $1,314.50 an ounce and silver by 0.30 per cent to $16.52 an ounce in Singapore, a key price-setting Asian market.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity moved up by Rs 60 each to Rs 32,300 and Rs 32,150 per 10 grams, respectively. It had gained Rs 260 in the previous four days.

Sovereign, however, remained flat at Rs 24,800 per piece of eight grams in scattered deals.

Tracking gold, silver ready went up by Rs 200 to Rs 40,770 per kg while weekly-based delivery too rose by a similar margin to trade at Rs 40,070 per kg, reported PTI. 

Silver coins too spurted by Rs 1,000 to Rs 76,000 for buying and Rs 77,000 for selling of 100 pieces.