Gold prices on Monday rose by Rs 75 to Rs 32,720 per 10 grams at the bullion market, reported news agency Press Trust of India quoting the All India Sarafa Association. The prices advanced on fresh buying from jewellers amid firm trend overseas. Silver, however, declined Rs 70 to Rs 38,130 per kg due to reduced offtake by industrial units and coin makers. US President Donald Trump announcing to impose higher tariffs on Chinese goods boosted appeal for the bullion, traders said.
Here are five things to know about gold and silver prices today:
1. Globally, gold prices climbed on Monday after US President Donald Trump threatened to raise tariffs on Chinese goods, escalating Sino-US trade tensions, which prompted investors to sell riskier assets and boost safe-haven bullion, reported news agency Reuters.
2. Spot gold was up 0.2 per cent at $1,281.63 per ounce in intraday trade. US gold futures also gained 0.2 per cent to $1,283.20 an ounce.
3. In Delhi, gold of 99.9 per cent and 99.5 per cent purity advanced by Rs 75 each to Rs 32,720 and Rs 32,550 per 10 grams, respectively. On Saturday, the yellow metal had gained by Rs 175 to Rs 32,645 per 10 grams.
4. Sovereign gold held steady at Rs 26,400 per eight grams.
5. Silver ready dropped by Rs 70 to Rs 38,130 per kg and weekly-based delivery surged by Rs 313 to Rs 37,290 per kg. Silver coins were in 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)
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