New Delhi: Gold prices climbed ₹1,000 to ₹1.48 lakh per 10 grams in the national capital on Thursday, driven by fresh buying from jewellers and retailers amid firm global trends.
The yellow metal of 99.9 per cent purity had settled at ₹1,47,000 per 10 grams in the previous session.
In contrast, silver declined by ₹600 to ₹2,24,700 per kilogram (inclusive of all taxes) from Wednesday's closing level of ₹2,25,300 per kg, according to the All India Sarafa Association.
Traders said domestic gold prices moved higher on improved demand from jewellers and stockists, although the appreciation of the rupee limited further gains.
"Gold advanced on Thursday amid a pullback in the US dollar following the Federal Reserve's latest policy announcement, increasing demand for the precious metal," said Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities.
He added that the dollar index hovered around the 101 mark after declining nearly 1 per cent in the previous session.
In the international market, spot gold traded marginally higher at $4,071.55 per ounce, while spot silver gained 1 per cent to $58.25 per ounce.
"Spot gold holds steady near $4,060 an ounce and silver around $57.5 an ounce as market participants digest the Fed's status quo ahead of the US personal consumption expenditures (PCE) inflation and jobless claims data due later in the day," said Kaynat Chainwala, AVP – Commodity Research at Kotak Neo.
She said precious metals are likely to remain volatile and range-bound in the near term, with the latest US growth, labour market and inflation data expected to influence expectations of a possible Federal Reserve rate cut in September. Traders will also monitor developments in the US-Iran conflict for cues on the medium-term outlook.
Meanwhile, India's gold demand fell 6 per cent year-on-year to 131.4 tonnes during the April-June quarter, weighed down by seasonally weak demand, higher customs duty and Prime Minister Narendra Modi's appeal to reduce purchases of the precious metal.
According to the World Gold Council, India's total gold demand stood at 139.7 tonnes in the corresponding quarter of the previous year.
Globally, gold demand remained largely flat year-on-year at 1,269 tonnes during the April-June quarter, compared with 1,268.6 tonnes in the same period of 2025, the report added.
