Gold prices hit 7-week high on global cues
New Delhi: Rising for the third straight day, gold prices jumped by Rs100 to trade at a seven-week high of Rs30,750 per 10 grams at Delhi bullion market on Saturday amid a firm trend overseas and local buying push.
Apart from positive global cues, buoyed by a slump in the dollar, sustained buying by local jewellers at the domestic spot market kept gold prices elevated, bullion traders said.
Globally, gold rose 1.17% to $1,337.40 an ounce and silver spurted 1.44% to $17.21 an ounce in New York in yesterday’s trade.
In the national capital, gold of 99.9% and 99.5% purity advanced by Rs100 each to Rs30,750 and Rs30,600 per 10 grams, respectively — levels last seen on 18 November. The precious metal had gained Rs175 in last two days. Sovereign, however, remained flat at Rs24,700 per piece of eight grams.
In similar fashion, silver ready strengthened by Rs100 to Rs39,900 per kg and weekly-based delivery rose Rs40 to Rs39,120 per kg. Silver coins too spurted by Rs1,000 to Rs74,000 for buying and Rs75,000 for selling of 100 pieces.
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