This Article is From Jan 16, 2019

Gold Prices Gain For Third Consecutive Session: 5 Things To Know

In Delhi, gold of 99.9 per cent and 99.5 per cent purities advanced by Rs 65 each to Rs 33,190 and Rs 33,040 per 10 gram, respectively.

Gold Prices Gain For Third Consecutive Session: 5 Things To Know

However, sovereign gold held steady at Rs 25,400 per piece of eight grams.

Extending its upward trend for third straight day, gold prices on Wednesday gained by Rs 65 to trade at Rs 33,190 per 10 grams at the bullion market, reported news agency Press Trust of India (PTI). The climb in prices came due to increased demand from jewellers, said the report quoting the All India Sarafa Association. Silver too followed the trend and surged by Rs 300 to Rs 40,500 per kg driven by significant increase in demand from industrial units and coin makers. Gold prices witnessed an uptick, as investors bet on this asset class as a safe haven, owing to depreciation in the rupee vis-a-vis the US dollar, said PTI citing traders. Besides, a firm trend overseas supported the gain in the prices of yellow metal, traders added.

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

  1. Globally, gold edged up on Wednesday, supported by uncertainty around Brexit after lawmakers voted down British Prime Minister Theresa May's deal to leave the European Union, while calls grew for a pause in US rate hikes, reported news agency Reuters. Spot gold was up 0.3 per cent $1,292.61 per ounce in intraday trade. US gold futures were up 0.3 per cent at $1,292.40 per ounce.

  2. In Delhi, gold of 99.9 per cent and 99.5 per cent purities advanced by Rs 65 each to Rs 33,190 and Rs 33,040 per 10 gram, respectively.

  3. However, sovereign gold held steady at Rs 25,400 per piece of eight grams. In the last two days, gold prices went up by Rs 250.

  4. Trade deficit narrowed to $13.08 billion in December, the lowest in 10 months, due to a fall in gold imports, the government said on Tuesday. Gold imports declined by 24.33 per cent to $2.56 billion in December last year as against $3.39 billion in the same month of 2017.

  5. Silver ready gained Rs 300 to Rs 40,200 per kg, while weekly-based delivery declined by Rs 88 to Rs 39,833 per kg. Silver coins, however, held flat at Rs 77,000 for buying and Rs 78,000 for selling of 100 pieces.   (With agency inputs)

 



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