Extending its upward trend for second day, gold prices advanced by Rs 150 to Rs 33,020 per 10 gram in the national capital on Friday, reported Press Trust of India (PTI) quoting the All India Sarafa Association. Positive trend overseas and support from local jewellers led to the rise in gold prices, traders were quoted as saying in the PTI report. Also, with the rupee hovering around Rs 70 against a dollar, the gold is in demand as a safe haven to mitigate the risk, they added. On Thursday, the precious metal had gained Rs 150.
(Also read: Gold Demand Sparkles Ahead Of Akshaya Tritiya)
Here are 5 things to know:
1. In the national capital, gold of 99.9 per cent and 99.5 per cent purity advanced by Rs 150 to Rs 33,020 and Rs 32,850 per 10 gram, respectively.
2. Sovereign gold held steady at Rs 26,400 per eight gram.
3. Globally, spot gold was trading higher at $1,282.70 an ounce, while silver was up at $15.10 an ounce in New York.
4. Silver ready rose by Rs 230 to Rs 38,750 per kg on increased offtake by industrial units and coin makers. The weekly-based delivery advanced by Rs 179 to Rs 37,560 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.
5. The rupee, meanwhile, rebounded by 23 paise to close at 70.02 against the dollar on Friday after Brent crude oil prices receded from a six-month high of $75.60/barrel.
(With inputs from agencies)
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