Gold prices rise on global cues, jewellers’ buying
New Delhi: Gold prices recovered by Rs75 to Rs30,525 per 10 grams at the bullion market on Monday on firm trend overseas amid fresh buying by local jewellers. Silver also rebounded by Rs150 to Rs40,550 per kg on increased offtake by industrial units and coin makers.
Traders said, besides a firm trend overseas, pick-up in buying by local jewellers to meet wedding season demand at the domestic spot market, mainly led to the rise in gold prices. Globally, gold rates rose 0.08% to $1,275.90 an ounce and silver by 0.12% to $16.88 an ounce in Singapore.
In the national capital, gold of 99.9% and 99.5% purity went up by Rs75 each to Rs30,525 and Rs30,375 per 10 grams, respectively. It had lost Rs80 in Saturday’s trade. Sovereign, however, remained unaltered at Rs24,700 per piece of eight grams.
Following gold, silver ready traded higher by Rs150 to Rs40,550 per kg and weekly-based delivery by Rs130 to Rs39,630 per kg. Silver coins, however, held steady at Rs74,000 for buying and Rs75,000 for selling of 100 pieces.
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