Markets

Gold stays firm on global cues, jewellers’ buying

Rising for the second straight session, gold prices rose by another ₹ 40 to ₹ 29,590 per 10 grams at the bullion market on Monday in line with a firm trend overseas and sustained buying by local jewellers.

Silver however met with resistance and slipped by₹70 to ₹ 40,400 per kg.

Bullion traders said that apart from a firming global trend, continued buying by local jewellers at domestic spot market mainly kept gold prices higher.

Globally, gold rose by 0.13 % to $1,280.20 an ounce, while silver fell by 0.09 % to USD 17.51 an ounce in Singapore.

In the national capital, gold of 99.9 % and 99.5 % purity advanced ₹ 40 each to ₹29,590 and ₹29,440 per 10 grams, respectively. The metal had gained ₹ 300 in Saturday’s trade.

Sovereign, however, remained unaltered at₹24,400 per piece of eight grams.

On the other hand, silver ready fell by ₹ 70 to ₹40,400 per kg, while weekly-based delivery traded higher by Rs 105 to ₹ 40,380 per kg.

Silver coins, however, continued to be traded at the previous level of ₹ 72,000 for buying and ₹ 73,000 for selling of 100 pieces.

Why you should pay for quality journalism - Click to know more

Recommended for you
This article is closed for comments.
Please Email the Editor

Printable version | Feb 18, 2020 9:46:56 AM | https://www.thehindu.com/business/markets/gold-stays-firm-on-global-cues-jewellers-buying/article18722672.ece

Next Story