Gold prices hit 2017 high on North Korea’s nuclear test, zoom past Rs30,600
New Delhi: Gold prices surged by Rs200 to trade at Rs30,600 per ten gram - its highest level this year - at the bullion market on Monday after North Korea conducted its most powerful nuclear test, escalating the geopolitical tensions.
Besides, increased buying by local jewellers lifted gold prices to this year’s highest level. Silver also moved up by Rs200 to Rs41,700 per kg backed by increased offtake by industrial units and coin makers.
Bullion traders said a firm trend overseas where gold hit 10-month high on mounting geopolitical tensions after North Korea’s latest nuclear test drove investors towards the safe- haven assets, mainly buoyed sentiment here.
Globally, gold rose 0.71% at $1,333.80 an ounce in Singapore. In the national capital, gold of 99.9 and 99.5% purity climbed by Rs200 each to Rs30,600 and Rs30,450 per ten gram respectively. The precious metals had gained Rs350 in the previous two sessions. Sovereign however remained unaltered at Rs 24,600 per piece of eight gram.
Following gold, silver ready advanced by Rs200 to Rs41,700 per kg and weekly-based delivery by Rs540 to Rs40,560 per kg. Silver coins however continued to be traded at previous level of at Rs74,000 for buying and Rs75,000 for selling of 100 pieces.