Markets

Gold rallies on firm global cues, jewellers’ buying

Gold prices on Thursday rose by ₹150 to close at ₹32,000 per 10 gm at the bullion market in the national capital, following a firm trend overseas amid fresh buying by local jewellers.

Silver, on the other hand, fell by ₹130 to close at ₹37,750 per kg, owing to slackened demand from coin makers and industrial units.

Traders said gold prices shot up on the back of a firm trend overseas amid increased buying by local jewellers at the domestic spot market.

Globally, gold edged up by 0.52% to USD 1,249.80 an ounce and silver rose 0.21% to USD 14.69 an ounce in New York.

In the national capital, gold of 99.9% and 99.5% purities traded higher by ₹150 each to ₹32,000 and ₹31,850 per 10 gm, respectively. The precious metal had fallen ₹210 on Wednesday.

Sovereign held steady at ₹25,000 per piece of 8 gram on little doing.

Silver ready, however, traded lower by ₹130 to ₹37,750 per kg, while weekly-based delivery was down by ₹175 to ₹37,258 per kg.

Silver coins held steady at ₹74,000 for buying and ₹75,000 for selling of 100 pieces.

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Printable version | Apr 9, 2020 12:12:31 PM | https://www.thehindu.com/business/markets/gold-rallies-on-firm-global-cues-jewellers-buying/article25788420.ece

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