26 Aug, 2018

Gold Price Jumps Rs. 250, Set For Weekly Gain: 5 Things To Know

Gold prices on Saturday rose by Rs. 250 to Rs. 30,900 per 10 grams at the bullion market on brisk buying by local jewellers and firm trend overseas, reported news agency Press Trust of India. Silver followed suit and advanced by Rs. 400 to Rs. 38,250 per kg due to increased offtake by industrial units and coin makers, it further said. Marketmen said sentiment bolstered after gold prices rose in global markets as the dollar came under pressure, raising investors’ appetite for the precious metal as a safe haven investment.

Here are key things to know about gold, silver prices today:

1. Globally, gold rose 1.75 per cent to $1,205.30 an ounce and silver gained 2.14 per cent to $14.77 an ounce in New York in yesterday’s trade. Furthermore, continued buying by local jewellers and retailers ahead of “Raksha Bandhan” also supported the upside, they added.

2. In the national capital, gold of 99.9 per cent and 99.5 per cent purity spurted by Rs. 250 each to Rs. 30,900 and Rs. 30,750 per 10 gram, respectively. The precious metal had gained Rs. 30 in yesterday’s trade.

3. Sovereign, however, remained steady at Rs. 24,500 per piece of eight grams.

4. In sync with gold, silver ready climbed Rs. 400 to Rs. 38,250 per kg and weekly-based delivery spurted by Rs. 380 to Rs. 37,000 per kg.

5. Silver coins, however, remained steady at Rs. 72,000 for buying and Rs. 73,000 for selling of 100 pieces.

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