Gold prices edge up on global cues, jewellers’ buying
New Delhi: Gold prices edged higher by Rs20 to Rs31,270 per 10 grams at the bullion market on Monday, backed by a firm trend overseas and fresh buying by local jewellers. However, silver prices dropped further by Rs300 to Rs39,500 per kg due to reduced 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 market, pushed up gold prices. Globally, gold rate rose 0.02% to $1,332.10 an ounce and silver by 0.78% to $16.70 an ounce in Singapore.
In the national capital, gold of 99.9% and 99.5% purity went up by Rs20 each to Rs31,270 and Rs31,120 per 10 grams, respectively. Sovereign, however, remained unaltered at Rs24,800 per piece of eight grams.
On the other hand, silver ready fell further by Rs300 to Rs39,500 per kg and weekly-based delivery by Rs155 to Rs38,450 per kg. Silver coins, however, remained unaltered at Rs74,000 for buying and Rs75,000 for selling of 100 pieces.