NEW DELHI : Fresh buying by local jewellers pushed local gold prices higher today even as the precious metal lost steam overseas. Gold prices today gained 80 to 33,250 per 10 gram, Press Trust of India reported, citing All India Sarafa Association. Gold prices had lost 100 on Saturday. Silver prices however fell sharply today due to low offtake from industrial units and coin makers. Silver rates fell by 370 to 39,530 per kg.

In Delhi, gold of 99.9% and 99.5 per cent purities recovered by 80 each to 33,250 and 33,080 per 10 gram, respectively. Sovereign, however, remained flat at 26,400 per piece of 8 gram. Silver ready fell by 370 to 39,530 per kg and weekly-based delivery by 13 to 38,715 per kg. Silver coins, however, continued to be traded at previous level of 80,000 for buying and 81,000 for selling of 100 pieces.

In global markets, gold prices slipped on profit-taking as equity markets regained some ground and the dollar steadied near a three-month peak. Spot gold was down 0.2% at $1,295.81 per ounce while US gold futures slipped 0.3% to $1,295.20. Spot prices hit $1,300.61 on Friday, but quickly slipped back below important level of $1,300 an ounce.

In global markets, gold prices have risen about 12% since touching over one-and-a-half year lows in August.

Federal Reserve chairman Jerome Powell has said the U.S. central bank does "not feel any hurry" to change the level of interest rates again as it watches how a slowing global economy affects conditions in the US.

Investors are now eyeing a key Brexit vote in the British parliament on Tuesday.

(With Agency Inputs)

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