Gold shines, silver reclaims Rs36,000 level
Mumbai: Gold prices went up by Rs65 to Rs27,760 per 10 grams at the bullion market on Tuesday on good investors’ offtake as well as local buying interest amid bullish global cues.
Silver too rallied Rs520 per kg to reclaim the key Rs36,000 mark on increased offtake by industrial units and coin-makers. Standard gold (99.5% purity) moved up by Rs65 to end at Rs27,760 per 10 grams from Monday’s level of Rs27,695. Pure gold (99.9% purity) also rose by a similar margin to close at Rs27,910 per 10 grams against Rs27,845 earlier. Silver (.999 fineness) rose by Rs520 to end at Rs36,210 per kg as against Rs35,690 previously.
Globally, gold prices hovered near four-month lows as the dollar held firm on expectations of tighter US monetary policy as the market awaited a speech from Federal Reserve chair Janet Yellen this week. Spot gold was down 0.3% at $1,210.34 an ounce in early trade. Elsewhere, silver fell 0.8% to $15.50 an ounce.