Snapping the four-day losing streak, gold prices on Tuesday surged by Rs 170 to Rs 32,790 per 10 grams on increased buying from local jewellers, reported news agency Press Trust of India (PTI) quoting the All India Sarafa Association. Silver too followed suit by gaining Rs 250 to Rs 38,350 per kg on more offtake by industrial units and coin makers. Rise in demand from local jewellers led to the uptick in gold prices though a weak trend overseas capped the gains, said the PTI report citing traders.
Here are 5 things to know about gold, silver prices:
1. Globally, gold prices slipped for a fourth straight session on Tuesday as recent upbeat economic data and signs that Washington and Beijing were making headway in a nearly year-long trade tariff skirmish boosted risk sentiment, reported news agency Reuters.
2. Spot gold was down 0.2 per cent at $1,284.98 per ounce, in intraday trade. In the previous session, the bullion dropped to $1,281.96. US gold futures shed about 0.3 percent at $1,287.60 an ounce.
3. In Delhi, gold of 99.9 per cent and 99.5 per cent purities gained by Rs 170 each to Rs 32,790 and Rs 32,620 per 10 grams, respectively. In the last four trading sessions, gold prices have declined by Rs 450.
4. However, sovereign gold held steady at Rs 26,400 per piece of eight grams.
5. Silver ready advanced by Rs 250 to Rs 38,350 per kg, while weekly-based delivery rose Rs 334 to Rs 37,322 per kg. On the other hand, silver coins held flat at Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.
(With agency inputs)