Gold Prices Gain By 100 Rupees: 5 Things To Know

Gold prices gained Rs 80 to Rs 33,250 per 10 grams at the bullion market on Monday reported news agency Press Trust of India (PTI) quoting the All India Sarafa Association. Gold gained due to fresh buying by local jewellers, even as the metal lost steam overseas, said the report. Silver, however, fell by Rs 370 to Rs 39,530 per kg due to low offtake from industrial units and coin makers. Traders attributed the rise in gold prices to pick-up in demand from local jewellers in the domestic market, but said a weak trend overseas capped the gains.

Here are 5 things to know about gold, silver prices:

1. In Delhi, gold of 99.9 per cent and 99.5 per cent purities recovered by Rs 80 each to Rs 33,250 and Rs 33,080 per 10 gram, respectively. The yellow metal had lost Rs 100 on Saturday.    

2. Sovereign, however, remained flat at Rs 26,400 per piece of 8 grams.

3. Gold traded in a tight range on Monday as the dollar firmed, but prices hovered near a more than one-week peak hit last week as poor US jobs data increased concerns about a global economic slowdown, reported news agency Reuters.

4. In intraday trade, spot gold eased about 0.1 per cent to $1,296.62 per ounce, after briefly breaching the $1,300 ceiling for the first time since March 1 in the previous session. US gold futures slipped 0.2 per cent to $1,296.70 an ounce.    

5. Silver ready fell by Rs 370 to Rs 39,530 per kg and weekly-based delivery by Rs 13 to Rs 38,715 per kg. Silver coins, however, continued to be traded at previous level of Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.

(With agency inputs)