Gold prices rise Rs 145; silver falls Rs 350

Gold prices rose by Rs 145 Monday to close at Rs 32,495 per 10 grams at the bullion market here on uptick in spot demand.

Silver prices, however, declined by Rs 350 to Rs 38,150 per kg on subdued demand from industrial units and coin makers.

Traders said, firm trend overseas and weakening rupee against the US dollar boosted the prices of the yellow metal.

In the national capital, gold of 99.9 per cent and 99.5 per cent purities rose Rs 145 each to close at Rs 32,495 and Rs 32,345 per 10 grams, respectively.

Sovereign gold, however, held steady at Rs 25,000 per piece of 8 grams.

Globally, gold surged to USD 1,249.34 an ounce in New York and silver held steady to USD 14.59 an ounce.

Silver ready tumbled by Rs 350 to Rs 38,150 per kg, while weekly-based delivery declined Rs 410 to Rs 37,890 per kg.

However, silver coins stood steady to Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces.