Gold Prices Gain On Jewellers' Buying: 5 Things To Know

Gold prices rose by Rs 180 to Rs 34,350 per 10 grams on Thursday, reported news agency Press Trust of India (PTI) quoting the All India Sarafa Association. The yellow metal gained on fresh buying from local jewellers despite the precious metal losing steam overseas. Whereas silver gained Rs 50 to Rs 38,750 per kg on higher offtake by industrial units. In Delhi, gold of 99.9 per cent and 99.5 per cent purity jumped by Rs 180 each to Rs 34,350 and Rs 34,180 per 10 gram, respectively.

Here are five things to know about gold and silver rates today:

1. Globally, gold prices fell on Thursday as hopes of a truce in the US-China trade spat ahead of a weekend meeting at the G20 summit rekindled investors' interest in riskier assets, weighing on safe-haven bullion, reported news agency Reuters.

2. Spot gold was down 0.4 per cent at $1,402.71 per ounce in intraday trade, after shedding more than 1 per cent in the previous session. US gold futures slipped 0.6 per cent to $1,406.50 an ounce.

3. "Gold prices eased down to $1,401 an ounce from a six-year high in the international market due to a steady dollar and profit booking at higher levels. Investors are also cautious on US-China trade developments at G20 meet later this week in Japan," Press Trust of India quoted Hareesh V, head-commodity research, Geojit Financial Services, as saying.

4. However, sovereign gold held steady at Rs 26,800 per eight grams. On Wednesday, gold plunged by Rs. 300 to Rs. 34,170 per 10 grams.

5. Meanwhile, silver ready prices rose by Rs 50 to Rs 38,750 kg, while weekly-based delivery dropped by Rs 130 to Rs 37,604 per kg. Silver coins faced some pressure and fell by Rs 1,000 to Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.

(With agency inputs)