Gold prices rule steady
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Mumbai: Gold prices ruled steady in a largely quiet trade at the bullion market on Thursday on mute off-take by jewellers and investors as well as lack of local buying interest even as it firmed up overseas.
Silver regained the Rs 43,000-mark surging by Rs255 per kg on increased offtake by industrial units. Standard gold (99.5 purity) closed its overnight level at Rs29,145 per 10 grams.
Pure gold (99.9 purity) also settled at its previous level of Rs 29,295 per 10 grams. Silver (.999 fineness) climbed by Rs 255 to finish at Rs 43,095 per kg compared to Wednesday’s close of Rs 42,840.
On the global front, gold rallied to a five-month high, on track for its best week since June, after the previous day’s comments by the US President Donald Trump on the strength of the dollar, knocked the currency half a per cent lower.
Spot gold showed a 0.1% gain at $1,286.69 an ounce at early trade, while US gold futures for June delivery were up $10.50 at $1,288.60.
Among other precious metals, silver was up 0.5% at $18.56, off an earlier five-month high of $18.57.