However, sovereign gold held steady at Rs 26,700 per eight grams

Gold prices on Thursday rose by Rs 120 to Rs 33,490 per 10 grams, reported news agency Press Trust of India (PTI) quoting the All India Sarafa Association. Tracking gold, silver gained Rs 50 to Rs 37,900 per kg on increased offtake by industrial units and coin makers. Gold rallied due to fresh demand from local jewellers and a firm trend overseas, bullion traders were quoted as saying in the PTI report. The yellow metal on Wednesday had held steady at Rs 33,370 per 10 grams.

Here are five things to know about gold and silver prices today:

1. In Delhi, gold of 99.9 per cent and 99.5 per cent purity surged by Rs 120 each to Rs 33,490 per 10 grams and Rs 33,320 per 10 grams, respectively.

2. Globally, gold prices edged higher on Thursday, hovering below the 15-week high hit in the previous session, supported by trade worries and a possible US rate cut, even as some investors locked in profits in bullion after a recent rally, reported news agency Reuters.

3. Spot gold was up 0.3 per cent to $1,333.58 per ounce in intrday trade, after hitting its highest level since February 20 at $1,343.86 on Wednesday. US gold futures rose 0.3 per cent to $1,337.20 an ounce.

4. However, sovereign gold held steady at Rs 26,700 per eight grams.

5. Silver ready advanced by Rs 50 to Rs 37,900 per kg, while weekly-based delivery gained Rs 97 to Rs 36,950 per kg. Silver coins held flat at Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.

(With agency inputs)