Gold prices increased marginally on the bullion market today on steady demand, report Economic Times.

Gold prices traded firm on the back of steady demand ahead the marriage and festival season. The reports of strong global trends also boosted the market sentiments.

Standard gold and ornaments gained Rs 5 each at Rs 11,845 per 10 grams and Rs 11,695 per 10 gram. Sovereign, however, lost Rs 50 at Rs 9,850 per piece of eight gram.

In London, gold rose for the first time in five sessions on reduced offtake and the dollar`s decline against the euro buoyed demand for the metal as an alternative investment. Gold rose by USD 10.74 at USD 812.04 an ounce.

While, silver remained bearish on selling by stockists amid reduced offtake by industrial units. Silver ready recorded a loss of Rs 480 at Rs 20,150 a kg while its weekly-based delivery declined by Rs 250 to Rs 20,100 a kg.

Silver coins, however, shot up by Rs 300 to Rs 28,000 for buying and Rs 28,100 for selling of 100 coins on paucity of stocks.