Gold Prices Rise Today After Two-Day Slide. Key Things To Know

Snapping two-day slide, gold prices on Friday trimmed higher by Rs 15 to Rs 31,585 per 10 grams at the bullion market. Firm trend overseas, coupled with pick-up in buying by the local jewelers led to the rise in gold prices today. Globally, gold rose by 0.09 per cent to $1,268 an ounce in Singapore. On the other hand, silver ready sunked by Rs 250 to Rs 40,750 per kg, below the Rs 41,000-mark, due to reduced offtake by industrial units and coin makers. 

Key things to know about bullion markets today:

1. According to traders, the recovery in gold prices was due to firm trend overseas. The precious metals traded higher, after hitting a six-month trough in the previous session, as the US dollar pulled back from a 11-month peak on profit-booking. 

2. Increased buying by local jewellers at domestic spot market also supported the uptrend. 

3. In the national capital, gold of 99.9 per cent and 99.5 per cent purity edged up by Rs 15 each to Rs 31,585 and Rs 31,435 per 10 grams, respectively. Gold prices had lost Rs 330 in the last two days. 

4. Sovereign gold remained flat at Rs 24,800 per piece of eight grams. 

5. On the other hand, silver ready fell by Rs 250 to Rs 40,750 per kg, while weekly-based delivery traded higher by Rs 105 to Rs 39,595 per kg on speculative buying. 

6. Silver coins, however, remained flat at Rs 76,000 for buying and Rs 77,000 for selling of 100 pieces. 

7. On Thursday, gold prices tumbled Rs. 145 to Rs. 31,570 per 10 grams at the bullion market.