New Delhi: Gold prices rose by Rs150 to Rs 17,260 per 10 gram in the bullion market on Monday on emergence of fresh buying as dollar fell, spurring demand for the precious metal.
Marketmen said buying by stockists and jewellery makers, influenced by a firming global trend, also supported the uptrend in prices.
Gold in Asia rose 1.1% at $1127.65 an ounce.
The precious metal also gained from dollar weakness as it typically moves inversely to the US currency.
The US Dollar Index, a measure against six major currencies, fell as much as 0.4% as Abu Dhabi pledged $10 billion loan to bail out Dubai.
Standard gold and ornaments recovered by Rs150 each to Rs17,260 and Rs17,110 per 10 gram respectively.
Sovereign followed suit and gained Rs100 at Rs 14,000 per piece of eight gram.
Silver ready rose by Rs250 to Rs27,700 per kg and weekly-based delivery by Rs 50 to Rs 27,500 per kg.
In line with a general firming trend, silver coins traded higher by Rs200 to Rs33,400 for buying and Rs33,500 for selling of 100 pieces.