Gold prices on Monday surged by Rs 200 to Rs 32,870 per 10 grams on fresh buying by local jewellers amid positive trend overseas, reported news agency Press Trust of India (PTI) quoting the All India Sarafa Association. Silver, however, declined by Rs 30 to Rs 38,570 per kg on reduced offtake by industrial units and coin makers. Gold surged on the back of a firm trend overseas as higher crude rates amid escalating tensions between the US and Iran, made bullion attractive as a safe-haven investment, said the report citing traders.
Here are 5 things to know about gold, silver prices:
1. Globally, gold inched up on Monday, moving away from a near 4-month trough touched in the previous session, drawing support from a drop in equities and a jump in crude oil prices, reported news agency Reuters.
2. Spot gold was up 0.3 per cent at $1,278.74 per ounce, in intraday trade having touched $1,270.63 in the previous session - its lowest since December 27, 2018.
3. In Delhi, gold of 99.9 per cent and 99.5 per cent purity gained Rs 200 to Rs 32,870 and Rs 32,700 per 10 grams, respectively. On Saturday, the yellow metal shed Rs 20 to touch Rs 32,670 per 10 grams.
4. Sovereign gold held steady at Rs 26,400 per eight grams.
5. Silver ready dropped Rs 30 to Rs 38,570 per kg, while weekly-based delivery rose by Rs 297 to Rs 37,527 per kg. Silver coins held flat at Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.
(With agency inputs)