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Gold Prices Jump Today On Jewellers' Buying, Global Cues

Traders said sentiment was bolstered after gold edged higher in global markets as the dollar was nearly unchanged after tumbling in the previous session.

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Gold Prices Jump Today On Jewellers' Buying, Global Cues

Gold prices jumped to Rs 29,665 per 10 grams.


New Delhi: Gold prices surged by Rs 230 to Rs 29,665 per 10 grams at the bullion market today largely in line with a firming trend overseas amid increased buying by local jewellers. Silver followed suit and recaptured the Rs 38,000-mark by rising Rs 680 to Rs 38,280 per kg due to increased offtake by industrial units and coin makers. Traders said sentiment was bolstered after gold edged higher in global markets as the dollar was nearly unchanged after tumbling in the previous session following the US Federal Reserve's widely expected decision to raise interest rates.

Globally, gold rose 0.17 per cent to $1,257.50 an ounce in Singapore.

In addition, increased buying by local jewellers to meet the wedding season demand at the domestic spot market supported the uptrend, they said.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity surged by Rs 230 each to Rs 29,665 and Rs 29,515 per ten grams, respectively. The precious metal had gained Rs 35 yesterday. Sovereign went up by Rs 100 at Rs 24,500 per piece of eight grams.

Tracking gold, silver ready hardened by Rs 680 to Rs 38,280 per kg and weekly-based delivery traded higher by a similar margin to Rs 37,460 per kg.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)


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