Gold prices glitter on global cues, silver prices top Rs39,000 mark
New Delhi: Gold prices surged by Rs200 to Rs29,550 per 10 grams at the bullion market today, taking positive leads from global markets amid increased buying by local jewellers.
Silver also reclaimed the Rs 39,000-mark by surging Rs1,130 to Rs39,500 per kg on increased offtake by industrial units and coin makers.
Traders attributed the sharp rise in gold prices to a firm trend overseas amid rising tensions between the US and North Korea, raising the demand for the precious metals as a safe-haven.
Globally, gold strengthened to $1,267.70 an ounce and silver by 1.03% to $16.61 an ounce in Singapore.
Increased buying by local jewellers to meet retailers’ demand at domestic spot markets also supported the upmove in gold, they said. In the national capital, gold of 99.9% and 99.5% purity climbed by Rs200 each to Rs29,550 and Rs29,400 per ten grams, respectively.
Sovereign, however, remained flat at Rs24,500 per piece of eight grams. Tracking gold, silver ready spurted by Rs1,130 to Rs39,500 per kg and weekly-based delivery by Rs585 to Rs37,795 per kg.
On the other hand, silver coins maintained a steady trend at Rs72,000 for buying and Rs73,000 for selling of 100 pieces.