Gold prices maintained an upward trend for the fifth straight day, gaining Rs 60 to Rs 32,300 per 10 grams at the bullion market, on positive global cues and increased buying by local jewellers.

Silver also strengthened by Rs 200 to Rs 40,770 per kg due to increased offtake by industrial units and coin makers.

Traders said that the sentiment remained upbeat largely on the back of a firm trend overseas and pick-up in buying by jewellers to meet the ongoing wedding season demand. The uptrend in gold prices was also supported by weakening of rupee against the dollar.

Globally, gold rose 0.18 per cent to $1,314.50 an ounce and silver by 0.30 per cent to $16.52 an ounce in Singapore, a key price-setting Asian market.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity moved up by Rs 60 each to Rs 32,300 and Rs 32,150 per 10 grams, respectively. It had gained Rs 260 in the previous four days. Sovereign, however, remained flat at Rs 24,800 per piece of eight grams in scattered deals.

Tracking gold, silver ready went up by Rs 200 to Rs 40,770 per kg, while weekly-based delivery too rose by a similar margin to trade at Rs 40,070 per kg. Silver coins too jumped Rs 1,000 to Rs 76,000 for buying and Rs 77,000 for selling of 100 pieces.

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