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Gold Prices Gain On Jewellers' Buying: 5 Things To Know

In Delhi, gold of 99.9 per cent and 99.5 per cent purity gained by Rs 200 each to Rs 32,870 and Rs 32,700 per 10 grams, respectively

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Gold Prices Gain On Jewellers' Buying: 5 Things To Know

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


Gold prices rose by Rs 200 to Rs 32,870 per 10 grams on Friday, reported news agency Press Trust of India (PTI) quoting the All India Sarafa Association. Tracking gold, silver also gained by Rs 150 to Rs 37,550 per kg on increased offtake by industrial units and coin makers. The rise in gold prices came due to a pick-up in demand from local jewellers in the domestic market 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. Gold prices held steady on Friday after rising above $1,280 in the previous session as weak US data pushed the dollar off 2-year highs and reignited hopes of a rate cut by the Federal Reserve this year, reported news agency Reuters.

2. Spot gold was steady at $1,283.21 per ounce in intraday trade, after rising as much as 1.1 per cent to a one-week peak of 1,287.23 in the previous session. The metal has risen 0.5 per cent so far this week. US gold futures for June were down 0.2 per cent at 1,283.10.

3. In Delhi, gold of 99.9 per cent and 99.5 per cent purity gained by Rs 200 each to Rs 32,870 and Rs 32,700 per 10 grams, respectively.    

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

5. Silver ready rose by Rs 150 to Rs 37,550 per kg, while weekly-based delivery was up by Rs 316 to Rs 36,550 per kg. On the other hand, silver coins held flat at Rs 79,000 for buying and Rs 80,000 for selling of 100 pieces. 

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