Gold prices on Monday rose by Rs 75 to Rs 33,195 per 10 grams, reported news agency Press Trust of India (PTI) quoting the All India Sarafa Association. Silver, however, declined by Rs 80 to Rs 37,500 per kg on reduced offtake by industrial units and coin makers. The precious metal strengthened on the back of buying by local jewellers and positive global cues, bullion traders were quoted as saying in the PTI report. On Saturday, gold had fallen by Rs 50 to Rs 33,120 per 10 grams.
Here are five things to know about gold and silver prices today:
1. In Delhi, gold of 99.9 per cent and 99.5 per cent purity surged by Rs 75 each to Rs 33,195 per 10 grams and Rs 33,025 per 10 grams, respectively.
2. Globally, gold prices rose on Monday to their highest in more than two months as heightened Sino-US trade tensions and Washington's threat of tariffs on Mexico stoked worries of a global recession and drove investors to seek refuge in safe-haven bullion, reported news agency Reuters.
3. Spot gold was up 0.7 per cent at $1,314.11 per ounce in intraday trade, after touching its highest since March 27 at $1,314.33. US gold futures rose 0.6 per cent to $1,319.40 an ounce.
4. Sovereign gold, however, held steady at Rs 26,700 per eight grams.
5. Silver ready dropped by Rs 80 to Rs 37,500 per kg, while weekly-based delivery rose by Rs 87 to Rs 36,464 per kg. Silver coins held flat at Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.
(With agency inputs)