Gaining for second straight day, gold prices on Wednesday rose by Rs 150 to Rs 33,020 per 10 grams, reported news agency Press Trust of India (PTI) quoting the All India Sarafa Association. Silver, however, declined by Rs 225 to Rs 37,325 per kg on subdued offtake by industrial units and coin makers. Sentiment in the domestic market turned bullish on the back of increased buying by jewellers and a positive trend in global markets, Press Trust of India quoted bullion traders as saying. Besides, a weaker rupee raised safe haven appeal of the precious metal, traders said.
Here are five things to know about gold and silver prices today:
1. Globally, gold prices firmed as signs of an escalating trade war made investors risk averse, but a buoyant dollar capped the metal's upside, reported news agency Reuters.
2. Spot gold was up 0.2 per cent at $1,281.59 per ounce in intraday trade. In the previous session, the metal slipped from a 1-week peak of $1,287.32 hit on Monday but bounced off a support at around $1,275. US gold futures were up 0.3 per cent at $1,280.80 an ounce.
3. In Delhi, gold of 99.9 per cent and 99.5 per cent purity surged Rs 150 each to Rs 33,020 and Rs 32,850 per 10 grams, respectively. The yellow metal had risen by Rs 100 to Rs 32,870 per 10 grams on Tuesday.
4. Sovereign gold, however, held steady at Rs 26,500 per eight grams.
5. Meanwhile, silver ready dropped by Rs 225 at Rs 37,325 per kg, while weekly-based delivery declined Rs 243 to Rs 36,183 per kg. Silver coins held flat at Rs 79,000 for buying and Rs 80,000 for selling of 100 pieces.
(With agency inputs)
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