Wedding season, positive global cues push gold prices by Rs 90 to Rs 33,300 per 10 gm; silver recovers too

New Delhi:  Gold prices edged up by Rs 90 to Rs 33,300 per 10 gram at the bullion market on Friday on fresh buying by local jewellers to meet wedding season demand amid positive global cues.

Silver prices also recovered by Rs 100 to Rs 40,050 per kg on increased offtake by industrial units and coin makers.

Wedding season, positive global cues push gold prices by Rs 90 to Rs 33,300 per 10 gm; silver recovers too

Representational image. Reuters.

Marketmen said, gold prices rose due to increased buying by jewellers to meet the ongoing wedding season demand at the domestic spot market.

Moreover, a firm trend overseas supported the rise in yellow metal prices, they said. Bullion market will be closed on Saturday on account of Republic Day.

Globally, gold rose 0.21 percent to $1,284.30 an ounce and silver by 0.39 percent to $15.41 an ounce in New York.

In the national capital gold of 99.9 percent and 99.5 percent purity climbed Rs 90 each to Rs 33,300 and Rs 33,150 per 10 gram, respectively. It had held steady on Thursday.

Sovereign gold, however, remained flat at Rs 25,500 per piece of 8 gram.

Tracking gold, silver ready rose by Rs 100 to Rs 40,050 per kg and weekly-based delivery by Rs 42 to Rs 39,036 per kg.

On the other side, silver coins continued to be traded at previous level of Rs 77,000 for buying and Rs 78,000 for selling of 100 pieces.

 

 

To keep watching India’s No. 1 English Business News Channel – CNBC-TV18, call your Cable or DTH Operator and ask for the Colors Family Pack (inclusive of 24 channels), available for Rs. 35/- per month, or subscribe to the channel for Rs. 4/- per day.

To keep watching the Leader in Global Market & Business News – CNBC-TV18 Prime HD, call your Cable or DTH Operator and ask for the Colors Family HD Pack (inclusive of 25 channels), available for Rs. 50/- per month, or subscribe to the channel for Rs. 1/- per day.

Firstpost is now on WhatsApp. For the latest analysis, commentary and news updates, sign up for our WhatsApp services. Just go to Firstpost.com/Whatsapp and hit the Subscribe button.

Updated Date: Jan 25, 2019 18:30:29 IST

Also See