Gold rises Rs 1,600 to Rs 1,40,700 per 10 grams in Nagpur bullion market

Gold prices rose sharply in Nagpur's bullion market on Tuesday. In a single trading session, gold became costlier by Rs 1,600 per 10 grams and reached Rs 1,40,700.

In the previous trading session, gold was priced at Rs 1,39,100 per 10 grams. After the rise, gold has once again moved above the Rs 1.40 lakh mark.

Silver also rose along with gold, but its gain was limited compared with gold. Silver became costlier by Rs 300 per kg and was recorded at Rs 1,85,600 per kg. In the previous trading session, silver was at Rs 1,85,300 per kg.

To sum up, on Tuesday gold stood at Rs 1,40,700 per 10 grams and silver at Rs 1,85,600 per kg in Nagpur, gains of Rs 1,600 per 10 grams and Rs 300 per kg respectively.

Prices of gold and silver continue to fluctuate in Nagpur's bullion market during the festival season. Demand for both metals rises in the season, and prices are being closely watched. Gold saw a big rise, while the gain in silver was marginal.

The change in the prices of the two precious metals will affect customers planning purchases, who will now have to set their budgets according to the new rates. The sharp one-day rise in gold may add to the worries of customers buying jewellery.

Traders and investors will now watch the trend in the next trading session. The international market, the state of the rupee and changes in demand may influence the direction of prices in the coming days.