Gold Prices Break 2-Day Falling Streak: 5 Things To Know

Gold prices rose by Rs 100 to Rs 32,870 per 10 grams on Tuesday, reported news agency Press Trust of India (PTI) quoting the All India Sarafa Association. The increase came on fresh buying by jewellers. Silver also gained Rs 50 to Rs 37,550 per kg on increased offtake by industrial units. Sentiment turned upbeat on the back of a pick-up in buying support from local jewellers, but a weak trend overseas capped the gains, Press Trust of India quoted traders as saying.

Here are five things to know about gold and silver prices today:

1. Globally, gold prices inched lower on Tuesday, dropping for the first time in four sessions, as the dollar rebounded from multi-week lows amid simmering Sino-US trade tensions and as bullion failed to surpass a strong technical resistance, reported news agency Reuters.

2. Spot gold was down 0.2 per cent at $1,282.86 per ounce in intraday trade, after touching its highest since May 17 at $1,287.32 in the previous session. US gold futures were down 0.1 per cent at $1,281.80 an ounce.

3. In Delhi, gold of 99.9 per cent and 99.5 per cent purity rose Rs 100 each to Rs 32,870 and Rs 32,700 per 10 grams, respectively. On Monday, the precious metal had declined by Rs 40 to Rs 32,770 per 10 grams.

4. Sovereign gold, however, held steady at Rs 26,500 per eight grams.

5. Silver ready advanced by Rs 50 at Rs 37,550 per kg, while weekly-based delivery declined Rs 72 to Rs 36,426 per kg. Silver coins held flat at Rs 79,000 for buying and Rs 80,000 for selling of 100 pieces.

(With agency inputs)