5 Things To Know About Gold, Silver Rates Today
On the other hand, silver ready strengthened by Rs 70 to Rs 39,600 per kg and weekly-based delivery by Rs 180 to Rs 38,515 per kg. Silver coins, however, continued to be traded at the previous levels of Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces.
Globally, gold prices rose on Monday as investors opted for the safe-haven asset amid fears of a global trade war and uncertainty surrounding the outcome of elections in Italy, which could spell new concerns for the euro zone.
The dollar fell for a fourth straight session to trade around 105.37 yen, but was slightly above Friday's low of 105.23, a level not seen since November 2016. The US currency slipped from its six-week high that it touched on March 1, after US President Donald Trump announced plans to levy hefty tariffs on aluminium and steel imports igniting fears of retaliation from its trade partners.
A weaker dollar supports gold, making it cheaper for holders of other currencies. Investor appetite for a safe-haven asset such as gold rises during times of geopolitical and financial uncertainty.