Gold Prices Rise Today, Silver Also Gain: 5 Things To Know

07 May 2018, 03:17 PM IST

Gold prices rose Rs 100 today. Prices had also risen by Rs 100 on Saturday

In Delhi, gold of 99.9 per cent and 99.5 per cent purity gained by Rs 100 each to Rs 32,180 and Rs 32,030 per ten gram, respectively.
Sovereign also went up by Rs 100 to Rs 24,800 per piece of eight gram.
Silver ready rose further by Rs 100 to Rs 40,600 per kg and weekly-based delivery by Rs 820 to Rs 39,915 per kg. Silver coins however held steady at Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.
In global markets, gold prices today touched $1,318.85, its highest since April 30. Gold prices are highly sensitive to US rates as rising rates end to boost the dollar in which it is priced. The rupee also weakened past the 67 mark per US dollar. India imports most of its gold requirements.
Rising interest rates make gold less attractive to investors because it does not pay interest. The US employment data showed job growth increased less than expected in April and the unemployment rate dropped to near a 17-1/2 year low of 3.9 per cent.