Gold prices on June 27 rose by ₹180 to ₹34,350 per 10 gram in the bullion market in New Delhi on fresh buying from local jewellers despite the precious metal losing steam overseas, according to the All India Sarafa Association.
Globally, gold was trading lower at $1,403.72 an ounce, while silver was quoting lower at $15.20 an ounce in New York.
NEW DELHI:BULLION:PTI GRAPHICS(PTI6_27_2019_001017B)
“Gold prices eased down to $1,401 an ounce from a six-year high in the international market due to a steady dollar and profit booking at higher levels. Investors are also cautious on U.S-China trade developments at G20 meet later this week in Japan,” said Hareesh V, Head-Commodity Research, Geojit Financial Services.
Growing tensions in the Middle East and dovish comments from major central banks had boosted the yellow metal’s safe haven appeal earlier, he added.
In the national capital, silver gained ₹50 to ₹38,750 per kg on higher offtake by industrial units.
Gold of 99.9% and 99.5% purity jumped by ₹180 each to ₹34,350 and ₹34,180 per 10 gram, respectively.
Sovereign gold held steady at ₹26,800 per eight gram.
Gold had plunged by ₹300 on June 26.
Meanwhile, silver ready prices rose by ₹50 to ₹38,750 kg, while weekly-based delivery dropped by ₹130 to ₹37,604 per kg.
On the other hand, silver coins faced some pressure and fell by ₹1,000 to ₹80,000 for buying and ₹81,000 for selling of 100 pieces.
