Gold Prices Surge Rs 1,000 Amid Fresh Retail Buying

Gold prices surged by Rs 1,000 to reach Rs 1.48 lakh per 10 grams on Thursday due to fresh retail buying, despite a stronger rupee that capped further gains.

The yellow metal of 99.9 per cent purity had closed at Rs 1,47,000 per 10 grams in the preceding session.

However, silver dropped by Rs 600 to Rs 2,24,700 per kilogram (inclusive of all taxes) from Wednesday's closing level of Rs 2,25,300 per kg, according to the All India Sarafa Association.

Traders said domestic gold prices edged higher on improved demand from jewellers and stockists, but a stronger rupee limited further gains.