Gold Prices Edge Higher On Jewellers' Demand: 5 Things To Know

Gold prices on Monday gained by Rs 30 to Rs 33,000 per 10 grams on the back of demand from jewellers, reported news agency Press Trust of India (PTI) quoting the All India Sarafa Association. Silver also surged Rs 250 to Rs 38,700 per kg on increased offtake by industrial units and coin makers. Despite weak global trend, gold prices saw an upward movement due to a rise in domestic demand, said the report citing traders. On Saturday, the yellow metal had declined by Rs 50 to Rs 32,970 per 10 grams.

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

1. Globally, gold prices eased on Monday, having touched a more-than one week high in the previous session, as stronger equity markets lifted risk-sentiment, thereby eroding safe-haven demand of the metal, reported news agency Reuters.

2. Spot gold fell by 0.3 per cent to $1,281.87 per ounce in intraday trade, having hit its highest since April 16 at $1,288.59 in the previous session. US gold futures shed 0.4 percent to $1,283.80 an ounce.

3. In Delhi, gold of 99.9 per cent and 99.5 per cent purity advanced by Rs 30 each to Rs 33,000 and Rs 32,830 per 10 grams, respectively.    

4. However, sovereign gold held steady at Rs 26,400 per eight grams.

5. Silver ready rose by Rs 250 to Rs 38,700 per kg, while weekly-based delivery fell by Rs 268 to Rs 37,250 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)