New Delhi: The trend of decline in gold prices for the last few days came to a halt on Thursday. Amid strong trend in foreign markets, there was good demand for gold from jewelers. Due to this, the price of gold in the national capital increased by Rs 500 to Rs 74,100 per 10 grams. On Wednesday, this precious metal closed at Rs 73,600 per 10 grams.

According to the All India Sarafa Association, silver also rose by Rs 1,000 to Rs 84,600 per kg on Thursday due to increased demand from industrial units and coin makers. In the previous trade, it closed at Rs 83,600 per kg. Apart from this, gold of 99.5 percent purity rose by Rs 500 from Rs 73,250 to Rs 73,750 per 10 grams.

On the foreign front, Comex gold rose 0.82 percent to $ 2,546.80 an ounce. Saumil Gandhi, Senior Analyst, Commodities at HDFC Securities, said, "Bullion prices rose on Thursday after US employment data was weaker than expected. This increased the expectation of a sharp cut in interest rates. This is the reason why the prices of non-yield metals like gold have risen."

Manav Modi, Senior Analyst, Commodity Research, Motilal Oswal Financial Securities, says that after the employment data, market participants have expected the Fed to cut interest rates on September 18. Manish Sharma, AVP, Commodities & Currencies, Anand Rathi Shares & Stock Brokers, said, "The Beige Book Survey released on Wednesday night showed that economic activity has remained stable in most regions of the US in recent weeks. This has reduced concerns of a recession in the near future."