Gold zooms Rs660, biggest one-day gain this year
Gold of 99.9 and 99.5% purity zoomed by Rs660 each, its biggest rise this year, to trade at Rs26,810 and Rs26,660 per ten grams respectively
New Delhi: Snapping its five-day falling streak, gold rebounded by Rs660, its biggest one-day surge this year, to trade at Rs26,810 per ten grams in Delhi bullion market on Saturday.
The precious metal, after five sessions of losses, recovered 2.1% to $1,136.60 an ounce in New York on Friday as the US payrolls rose less than expected in September and wages stagnated, weakening the case for the Federal Reserve to raise interest rates this year.
Bullion traders said sentiments got a boost after gold rebounded in global markets and revival of buying by jewellers and retailers at domestic markets at current levels.
In the national capital, gold of 99.9 and 99.5% purity zoomed by Rs660 each, its biggest rise this year, to trade at Rs26,810 and Rs26,660 per ten grams respectively. It had gained Rs600 previously on 12 August. The precious metal had lost Rs1,100 in the past five straight sessions. Sovereign gold followed suit and rose by Rs200 to Rs22,300 per piece of eight grams.
Following gold, silver ready recorded a significant rally of Rs1,200 to Rs35,800 per kg but weekly-based delivery shed Rs70 to Rs34,575 per kg. Silver coins soared by Rs1,000 to Rs50,000 for buying and Rs51,000 for selling of 100 pieces.
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