Markets

Gold tops 31k-mark on jewellers’ buying, Asian cues

more-in

Gold soared by ₹100 to trade at ₹31,050 per ten gram at the bullion market today on continued buying by jewellers to meet wedding season demand.

Silver too advanced by ₹100 to ₹40,300 per kg due to increased offtake by industrial units and coin makers.

Marketmen attributed the rise in gold prices to steady buying by local jewellers, driven by ongoing wedding season amid higher Asian cues.

Globally, gold rose 0.08% to USD 1,340.70 an ounce and silver by 0.03% to USD 17.34 an ounce in Singapore.

Besides, a depreciated rupee against the dollar made imports of the metal costlier, thus fuelling the uptrend, they said.

In the national capital, gold of 99.9 and 99.5% purity added ₹100 each to ₹31,050 and ₹30,900 per ten gram respectively. The precious metal had gained ₹475 in the previous four sessions.

Sovereign also edged up by ₹50 to ₹24,800 per piece of eight gram.

In line with gold, silver ready rose further by ₹100 to ₹40,300 per kg and weekly-based delivery by ₹85 to ₹39,665 per kg.

Silver coins too spurted by ₹1,000 to ₹75,000 for buying and ₹76,000 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 | Jan 29, 2020 1:08:35 PM | https://www.thehindu.com/business/markets/gold-tops-31k-mark-on-jewellers-buying-asian-cues/article22450591.ece

Next Story