Gold prices rebound on jewellers’ buying
Gold prices recover by Rs50 to Rs30,250 per 10 grams on mild buying by local jewellers, shrugging off a weak trend overseas
New Delhi: Gold prices recovered by Rs50 to Rs30,250 per 10 grams at the bullion market on Tuesday on mild buying by local jewellers, shrugging off a weak trend overseas. Silver, however, held steady at Rs39,000 per kg in limited deals from industrial units.
Traders said scattered buying by local jewellers to meet ongoing wedding season demand at domestic spot market mainly helped gold prices to recover, but a weak trend overseas capped the rise. Globally, gold rate fell 0.06% to $1,274.80 an ounce in Singapore.
In the national capital, gold of 99.9% and 99.5% purity bounced back by Rs50 each to Rs30,250 and Rs30,100 per 10 grams, respectively. It had lost Rs300 in Monday’s trade. Sovereign, however, remained flat at Rs24,600 per piece of eight grams.
On the other hand, silver ready ended steady at Rs39,000 per kg, while weekly-based delivery declined by Rs60 to Rs37,510 per kg. Silver coins, however, remained flat at Rs73,000 for buying and Rs74,000 for selling of 100 pieces.
Editor's Picks »
- France’s Engie appoints Rothschild to find a buyer for Indian solar biz
- Going into 2019, has brand Modi lost some of its sheen?
- Sun Pharma’s cancer injection from Halol plant gets USFDA nod
- A click moment for us was raising ₹100 crore in seed round to chase our dreams: Manish Lunia
- HDFC mutual fund arm to launch its ₹2,800 crore initial share sale next week
- Fund managers slashing allocations to equities in emerging markets, shows BAML survey
- ICICI Lombard tightens grip on profitability in a lean growth quarter
- TCNS Clothing IPO: Valuations capture the upsides adequately
- Nightmare of Indian Accounting Standard 115 comes to haunt firms in the real estate sector
- What is driving the optimism in stocks of paint companies?