Gold prices up on jewellers’ buying, global cues
New Delhi: Gold prices rose by Rs50 to Rs31,300 per 10 gram on Tuesday on steady buying by local jewellers and positive global cues. Silver prices too gained Rs50 to Rs39,250 per kg due to increased offtake by industrial units and coin makers.
Traders said sentiment remained strong on the back of a positive trend overseas where gold held firm, buoyed by a weaker dollar, while investors waited for US inflation data for clues on the pace of interest rate hikes. Moreover, increased buying by local jewellers to meet ongoing wedding season demand at domestic spot market, supported the uptrend in gold.
Globally, gold rate was up 0.33% to $1,326.90 an ounce and silver rose 0.48% to $16.61 an ounce in Singapore.
In the national capital, gold of 99.9% and 99.5% purity gained Rs50 each to Rs31,300 and Rs31,150 per 10 gram, respectively. The metal had gained Rs300 in last three days. Sovereign however remained flat at Rs24,800 per piece of eight gram.
In line with the overall trend, silver ready hardened by Rs50 to Rs39,250 per kg and weekly-based delivery by Rs275 to Rs38,265 per kg. Silver coins however remained unaltered at Rs74,000 for buying and Rs75,000 for selling of 100 pieces.