Gold climbs Rs 175 on global cues, jewellers' buying
Traders said gold prices were higher owing to a firm trend overseas as investors were cautious ahead of a US Fed meeting, which could offer direction on future interest rate hikes, while markets kept a close watch on China-US trade war.
Globally, gold rose 0.03 percent to USD 1,199.20 an ounce and Silver by 0.04 percent to USD 14.23 an ounce in Singapore.
Besides, increased buying by local jewelers at the spot market and a depreciating rupee against the dollar, making imports costlier, too fuelled the uptrend.
In the national capital, gold of 99.9 percent and 99.5 percent purity shot up by Rs 175 each to Rs 31,725 and Rs 31,575 per 10 gram, respectively. The precious metal had gained Rs 100 in Monday's trade.