Gold prices increased on Thursday as traders created fresh positions amid firm demand in the physical market. On the Multi Commodity Exchange (MCX), gold futures for April delivery rose by Rs 851, or 0.55 per cent, to Rs 1,54,799 per 10 grams, with a business turnover of 1,064 lots.

On MCX, silver futures jumped up to 1.58 per cent, or Rs 3,993, to reach an intraday high of Rs 2,55,735. Later, silver was trading at Rs 2,54,997, up Rs 3,255 or 1.3 per cent, after hitting a low of Rs 2,53,720 earlier in the session.