Gold prices regain on jewellers’ buying, global cues
Gold prices rise by Rs145 to Rs30,620 per 10 grams, driven largely by a firm trend overseas as well as pick-up in buying by jewellers in the domestic spot market
New Delhi: Gold prices rose by Rs145 to Rs30,620 per 10 grams on Thursday, driven largely by a firm trend overseas as well as pick-up in buying by jewellers in the domestic spot market. Silver prices also recovered by Rs180 to Rs 39,680 per kg on increased offtake by industrial units and coin makers.
Bullion traders attributed the recovery in gold prices to a firm trend overseas as the weakness in dollar boosted demand for the precious metals as a safe-haven for investors. In addition, increased buying by local jewellers ahead of wedding season fuelled the uptrend, they said.
Globally, gold rate rose by 0.06% to $1,317.10 an ounce and silver by 0.18% to $16.97 an ounce in Singapore.
In the national capital, gold of 99.9% and 99.5% purity rebounded by Rs145 each to Rs30,620 and Rs30,470 per 10 grams, respectively. It had lost Rs25 on Wednesday. Sovereign, however, held steady at Rs24,700 per piece of eight grams.
Silver ready rose by Rs180 to Rs39,680 per kg and weekly-based delivery by Rs155 to Rs38,990 per kg. Silver coins also spurted by Rs1,000 to end at Rs73,000 for buying and Rs74,000 for selling of 100 pieces.