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Gold Price Rises Above Rs 31,000 Today: 5 Things To Know

Gold prices were supported by buying from jewellers to meet wedding season demand. Gold had gained Rs 475 in the previous four sessions.

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Gold Price Rises Above Rs 31,000 Today: 5 Things To Know

Marketmen attributed the rise in gold prices to steady buying by local jewellers


NEW DELHI: Gold price rose by Rs 100 to Rs 31,050 per 10 grams at the bullion market today. Gold price was supported by buying from jewellers to meet wedding season demand. Gold price had gained by Rs 475 in the previous four sessions. Besides higher global prices, a weaker rupee also added to the uptrend in the price. Silver too advanced by Rs 100 to Rs 40,300 per kg due to increased offtake by industrial units and coin makers.

5 Things To Know About Gold Price Rise Today:


1) Marketmen attributed the rise in gold price to steady buying by local jewellers, driven by ongoing wedding season amid higher global rates.

2) Globally, gold rose 0.08 per cent to $1,340.70 an ounce and silver by 0.03 per cent to $17.34 an ounce in Singapore.

3) Besides, a fall in rupee's value against the dollar today made imports of the metal costlier, thus fuelling the uptrend, they said. The rupee weakened today to 64.03 against the dollar vs its Monday's closing price of 63.49. Weighing on the rupee, India's December trade deficit widened to its highest in more than three years as higher import bills for gold and crude oil weighed on rising exports, government data showed on Monday.

4) In the national capital, gold of 99.9 and 99.5 per cent purity added Rs 100 each to Rs 31,050 and Rs 30,900 per 10 grams respectively. Sovereign also edged up by Rs 50 to Rs 24,800 per piece of eight grams.

5) In line with gold, silver ready rose further by Rs 100 to Rs 40,300 per kg and weekly-based delivery by Rs 85 to Rs 39,665 per kg. Silver coins too spurted by Rs 1,000 to Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.

(With PTI inputs)

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