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Business News/ Market / Stock-market-news/  Gold prices climb Rs170 on global cues, wedding demand
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Gold prices climb Rs170 on global cues, wedding demand

Gold prices advance by Rs170 to Rs31,820 per 10 gram largely in sync with the overseas trend amid increased buying by local jewellers

In New Delhi, gold of 99.9% and 99.5% purity surged by Rs170 each to Rs31,820 and Rs31,670 per 10 gram, respectively. Photo: MintPremium
In New Delhi, gold of 99.9% and 99.5% purity surged by Rs170 each to Rs31,820 and Rs31,670 per 10 gram, respectively. Photo: Mint

New Delhi: Gold prices advanced by Rs170 to Rs31,820 per 10 gram at the bullion market on Friday largely in sync with the overseas trend amid increased buying by local jewellers. However, silver prices slipped by Rs580 to Rs39,380 per kg.

Traders said sentiment remained firm on the back of a higher trend overseas as the dollar weakened, raising demand for gold as a safe haven. Besides, pick-up in buying by local jewellers to meet the ongoing wedding season demand at domestic spot market supported the uptrend in gold.

Globally, gold rate rose 0.40% to $1358.70 an ounce and silver by 0.36% to $16.88 an ounce in Singapore.

In the national capital, gold of 99.9% and 99.5% purity surged by Rs170 each to Rs31,820 and Rs31,670 per 10 gram, respectively. Sovereign however held flat at Rs24,800 per piece of eight gram.

On the other hand, silver ready fell by Rs580 to Rs39,380 per kg and weekly-based delivery by Rs30 to Rs38,640 per kg. Silver coins remained unaltered at Rs74,000 for buying and Rs75,000 for selling of 100 pieces.

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Published: 16 Feb 2018, 04:30 PM IST
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