Gold prices were flat at Rs 34,590 per 10 grams on scattered demand while silver prices rose by Rs 100 to Rs 41,600 per kg in Delhi on Monday, reported news agency Press Trust of India (PTI) quoting the All India Sarafa Association. Traders attributed the rise in silver prices to pickup in offtake by industrial units and coin makers at the local spot market. Gold of 99.9 per cent and 99.5 per cent purity ruled flat at Rs 34,590 and Rs 34,440 per ten grams, respectively, said the report. The precious metal had gained Rs 90 on Saturday.
Here are 5 things to know about gold, silver prices:
1. Sovereign was also unaltered at Rs 26,600 per piece of eight grams.
2. Globally, gold prices rose on Monday as the dollar fell against the yuan after US President Donald Trump said he would delay an increase in tariffs on Chinese goods, while palladium surged to a record high, reported news agency Reuters.
3. Spot gold rose 0.2 per cent to $1,330.48 per ounce in intraday trade. US gold futures were steady at $1,333.
4. In Delhi, silver ready traded higher by Rs 100 to Rs 41,600 per kg, while weekly-based delivery advanced by Rs 122 to Rs 40,390 per kg.
5. Silver coins however weakened by Rs 1,000 to Rs 82,000 for buying and Rs 83,000 for selling of 100 pieces.
(With agency inputs)