Gold slightly up on retail buying, silver rallies Rs 1,300

New Delhi, Mar 12: Gold prices were marginally up in the national capital on Wednesday amid modest retail buying as well as jewellery offtake, according to the All India Sarafa Association.

The precious metal of 99.9 per cent purity rose by Rs 60 to Rs 88,850 per 10 grams. It had closed at Rs 88,790 per 10 grams on Tuesday.

Gold of 99.5 per cent purity advanced by Rs 60 to Rs 88,450 per 10 grams.

Silver price climbed by Rs 1,300 to hit nearly a three-week high of Rs 1,00,200 per kg. It had settled at Rs 98,900 per kg in the previous market close.

In the international markets, spot gold in the international markets traded flat at USD 2,915.73 per ounce.

"Gold prices remained flat as the US dollar weakened to a five-month low, weighed down by economic concerns and geopolitical uncertainty. The greenback struggled amid fears over US economic stability, fuelled by President Donald Trump's unpredictable trade policies," Abans Financial Services' Chief Executive Officer Chintan Mehta said.

Also, Comex futures for April delivery traded higher at USD 2,921.30 per ounce.

Meanwhile, silver spot prices in the Asian market hours quoted 0.25 per cent higher at USD 33.03 per ounce.