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Gold rises on jewellers’ buying

Author: PTI/Monday, August 6, 2018/Categories: Gold

Gold rises on jewellers’ buying

New Delhi, Aug 6 - Gold prices edged up by Rs 35 to Rs 30,585 per 10 grams at the bullion market today on persistent buying by local jewellers, shrugging off a weak trend overseas.

Silver, too, advanced by Rs 100 to Rs 39,200 per kg due to by increased offtake by industrial units and coin makers.

Marketmen said persistent buying by local jewellers to meet rising demand from retailers at the domestic spot market kept gold prices elevated but a weak trend overseas restricted the gains.

Globally, gold fell 0.17 per cent to USD 1,211.20 and silver by 0.29% to USD 15.33 an ounce in Singapore.

In the national capital, gold of 99.9% and 99.5% purity gained Rs 35 each to Rs 30,585 and Rs 30,435 per 10 grams, respectively. The precious metal had gained Rs 115 in the last two sessions of trade.

Sovereign, however, remained flat at Rs 24,600 per piece of eight grams in limited deals.

In a similar fashion, silver ready strengthened by Rs 100 to Rs 39,200 per kg, while weekly-based delivery drifted lower by Rs 160 to Rs 37,910 per kg.

Silver coins too spurted by Rs 1,000 to Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces.

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rajyashree guha

PTI

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