Markets

Gold extends gains on jewellers buying

Deprecating rupee that made imports costlier influenced gold prices. File Photo  

Gold prices on Wednesday rose further by Rs. 70 to Rs. 28,820 per ten gram in the national capital on increased buying by jewellers and retailers to meet ongoing festive season demand.

Silver also gained by Rs. 25 to Rs. 44,300 per kg on increased offtake by industrial units and coin makers.

Bullion merchants said increased buying by jewellers and retailers to meet rising demand, driven by ongoing festive season demand, boosted the sentiment.

Besides, deprecating rupee that made imports costlier also influenced gold prices, they said.

Gold in Singapore, which normally determines price trend on the domestic front, traded a shade higher at USD 1,310.85 an ounce and silver by 0.70 per cent to USD 20.56 an ounce in Tuesday’s trade.

In Delhi, gold of 99.9 and 99.5 per cent purity advanced by Rs. 70 each to Rs. 28,820 and Rs. 28,620 per ten grams respectively. It had gained Rs. 25 on Tuesday.

Sovereign, however, continued to be traded at previous level of Rs. 24,800 per piece of eight gram on scattered demand.

In a similar fashion, silver ready rose further by Rs. 25 to Rs. 44,300 per kg and weekly-based delivery by Rs. 55 to Rs. 43,830 per kg.

Silver coins were unaltered at Rs. 77,000 for buying and Rs. 78,000 for selling of 100 pieces.


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Printable version | Jan 21, 2022 7:13:28 PM | https://www.thehindu.com/business/markets/gold-extends-gains-on-jewellers-buying/article6312558.ece

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