Gold hits over 6yr high of ₹32,625 on festive buzz

NEW DELHI: Gold prices rose by another ₹125 to trade at over six-year high of ₹32,625 per 10 gram on Thursday, buoyed by pick-up in festive and wedding season demand by local jewellers amid firm global trends and weakening rupee. Silver, however, remained weak and fell by ₹130 to ₹39,600 per kg due to slackened demand from industrial units. Bullion traders said sentiments also got a boost on firming trend in overseas where gold traded at over three-month high as the dollar eased and equities slumped. Besides, weakness in the local currency also added to investor sentiments. Globally, gold was trading at $1,234.20 an ounce in Singapore on Thursday. In the national capital gold of 99.99 and 99.5 % purity rallied by ₹125 each to ₹32,625 and ₹32,475 per 10 gram, respectively. This is the highest level since November 29, 2012 when the precious metal had closed at ₹32,940 per ten gram.