Gold prices rose by Rs 220 to Rs 32,270 per 10 grams as upward trend continued unabated for the fourth straight week, backed by persistent buying by local jewellers to meet festive season demand coupled with positive global cues.
Silver after moving both ways on alternate bouts of buying and selling, managed to end higher by Rs 200 to Rs 39,600 per kg.
Traders attributed the sustained rise in gold prices to increased buying by local jewellers, driven by ongoing festive season and a firming trend in global markets.
Besides, weakness in the rupee, making imports costlier, also fuelled the upside in gold prices.
Globally, gold ended the week higher at $1,227.50 an ounce and silver at $14.70 an ounce in New York against the previous week's of $1,218.80 and $14.68, respectively.
In the national Capital, gold of 99.9 per cent and 99.5 per cent purity commenced the week higher at Rs 32,250 and Rs 32,020 per ten gram, respectively, but slipped to a low of Rs 32,180 and Rs 32,020 for want of support.
