Gold prices rose by Rs 70 to Rs 33,330 per 10 grams on Thursday, news agency Press Trust of India reported quoting the All India Sarafa Association. The increase came on the back of fresh buying from jewellers. Silver prices rose by Rs 50 to Rs 38,250 per kg on more offtake by industrial units and coin makers. Gold prices saw an uptrend due to rise in domestic demand, the agency quoted traders as saying. However, a weak trend overseas capped the gains.
Here are five things to know about gold and silver prices today:
1. Globally, gold steadied on Thursday, consolidating in a tight range below the key $1,300 pivot, as Washington slapped sanctions on Chinese telecoms giant Huawei, souring optimism for a thaw in US-China trade tensions, reported news agency Reuters.
2. Spot gold was unchanged at $1,295.93 per ounce in intraday trade, moving in a narrow range of about $3. US gold futures were also steady at $1,297.40 an ounce.
3. In Delhi, gold of 99.9 per cent and 99.5 per cent purity gained by Rs 70 each to Rs 33,330 and Rs 33,160 per 10 grams, respectively. Sovereign gold, however held steady at Rs 26,500 per eight grams.
4. Meanwhile, silver ready advanced by Rs 50 to Rs 38,250 per kg, while weekly-based delivery was up by Rs 14 to Rs 37,524 per kg. Silver coins held flat at Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.
5. The country's trade deficit widened to $15.33 billion in April from a year ago, the trade ministry said in a statement on Wednesday. Gold imports rose by 54 per cent to $3.97 billion in April.
(With agency inputs)