New Delhi, Jul 30 (PTI) Gold prices climbed Rs 1,000 to Rs 1.48 lakh per 10 grams in the national capital on Thursday, driven by fresh buying by jewellers and retailers amid firm global trends.

The yellow metal of 99.9 per cent purity had closed at Rs 1,47,000 per 10 grams in the preceding session.

However, silver dropped by Rs 600 to Rs 2,24,700 per kilogram (inclusive of all taxes) from Wednesday's closing level of Rs 2,25,300 per kg, according to the All India Sarafa Association.

Traders said domestic gold prices edged higher on improved demand from jewellers and stockists; however, a stronger rupee capped further gains.

"Gold advanced on Thursday amid a pullback in the US dollar following the Federal Reserve's latest policy announcement, increasing demand for the precious metal," said Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities.

He added that the dollar index hovered around the 101 level after declining nearly 1 per cent in the previous session.

In the international markets, spot gold traded marginally higher at USD 4,071.55 per ounce and silver rose 1 per cent to USD 58.25 per ounce.

"Spot gold holds steady near USD 4,060 an ounce, silver near USD 57.5, as market participants digest the Fed's status quo ahead of US personal consumption expenditures inflation and jobless claims data later in the day," said Kaynat Chainwala, AVP Commodity Research at Kotak Neo (formerly Kotak Securities).

She noted that precious metals are likely to stay volatile and range-bound in the near term, with Thursday's growth, labour and inflation numbers set to shape whether the case for a September move builds or eases, while traders will keep a watch on the trajectory of the US-Iran conflict for the medium-term outlook.

Meanwhile, India's gold demand fell 6 per cent year-on-year to 131.4 tonnes in April-June, weighed down by seasonally subdued sales, higher customs duty and Prime Minister Narendra Modi's appeal to reduce purchases of the precious metal.

The total demand stood at 139.7 tonnes during the corresponding period last year, the World Gold Council said in a report.

Further, global gold demand remained flat year-on-year at 1,269 tonnes in the April-June quarter. The total demand for the yellow metal was at 1,268.6 tonnes during the corresponding quarter of 2025. PTI HG SHM