Gold prices jump by Rs140 on global cues
Mumbai: Gold prices jumped at the domestic bullion market on Wednesday on sustained offtake from investors and jewellery stockists driven by surging global cues.
Silver gained Rs600 per kg on increased offtake by industrial units. Standard gold (99.5 purity) advanced by Rs140 to conclude at Rs28,580 per 10 grams from Tuesday’s closing level of Rs28,440.
Pure gold (99.9 purity) also added a similar margin to end at Rs28,730 per 10 grams compared to Rs28,590 previously.
Silver (.999 fineness) zoomed up by Rs600 per kg to finish at Rs37,875 from Rs37,275 earlier.
Globally, gold prices rose after North Korea said it is considering an attack on the US Pacific territory of Guam just hours after President Donald Trump warned Pyongyang that any threat to the US would be met with “fire and fury”.
Spot gold rose 0.6% to $1,267.79 per ounce at early trade. Silver rose 1.2% to $16.70 per ounce.