Gold up by Rs 100, reclaims Rs 32,000-level on local jewellers' buying

Gold prices reclaimed the Rs 32,000-level by rising Rs 100 to Rs 32,080 per 10 grams today, taking strength from scattered buying by local jewellers amid a firm trend overseas.

Silver also strengthened by Rs 200 to Rs 40,500 per kg due to increased offtake by industrial units and coin makers.

Gold prices firmed up after falling for three straight days, mainly because of fresh buying by local jewellers at the domestic spot market, coupled with a better trend globally.

Globally, gold rose 0.26 per cent to USD 1,315 an ounce and silver by 0.64 per cent to USD 16.50 an ounce in New York yesterday as the dollar backed off its day's highs, raising demand for the precious metals.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity rebounded by Rs 100 each to Rs 32,080 and Rs 31,930 per ten grams, respectively. It had lost Rs 220 in the previous three days.

Sovereign, however, held steady at Rs 24,700 per piece of eight grams.