Extending its upward trend, gold prices on Wednesday rose by Rs 320 and crossed the Rs 34,000 mark per 10 grams at the bullion market here mirroring firm trend overseas, reported news agency Press Trust of India (PTI) quoting the All India Sarafa Association. The yellow metal rose by Rs 320 to Rs 34,070 per 10 grams. Following gold, silver too rose by Rs 330 to Rs 41,330 per kg on increased offtake by industrial units and coin makers. With uncertainty looming over the trade-talks outcome between US-China amid launching of criminal proceedings against the Chinese telecom giant Huawei by Washington, investors resorted to safe haven buying, which pushed up gold prices, said the report citing traders.
Here are five key things to know about gold, silver prices:
1. In Delhi, gold of 99.9 per cent and 99.5 per cent purities climbed Rs 320 each to Rs 34,070 and Rs 33,920 per 10 gram, respectively.
2. Similarly, sovereign gold advanced by Rs 200 to Rs 25,900 per piece of eight grams.
3. Globally, gold rose to near a more than eight-month peak on Wednesday, supported by a muted dollar as investors awaited the Federal Reserve's policy decision and US-China trade talks later in the day, reported news agency Reuters.
4. Spot gold was up 0.1 per cent at $1,312.51 per ounce in intraday trade, after touching $1,315.93, its highest since May 14, 2018 earlier in the session. US gold futures rose 0.2 per cent to $1,311.50.
5. Silver ready rose by Rs 330 to Rs 41,330 per kg and weekly-based delivery by Rs 361 to Rs 40,434 per kg. Silver coins, too, were in good demand and traded higher by Rs 1,000 at Rs 79,000 for buying and Rs 80,000 for selling of 100 pieces, respectively.
(With agency inputs)