Gold Prices Edge Higher On Festive Demand: 5 Things To Know

Gold prices recovered by Rs 20 to Rs 32,650 per 10 grams at the bullion market Saturday on festive season demand even as the precious metal weakened overseas, reported news agency Press Trust of India. Tracking gold, silver too rose by Rs 30 to Rs 39,530 per kg. Traders attributed the moderate recovery in gold prices to fresh purchases by jewellers to meet festive season demand but a weak trend in global market capped the gains. Physical gold demand was lacklustre this week, with dealers offering discounts for the metal ahead of a traditionally busy festival week for the first time in at least three years, as high prices kept consumers away, said news agency Reuters.

Here are key things to know about gold, silver prices today:

1. Globally, gold slipped on Friday as the US dollar regained some ground on the back of strong American jobs data, putting the metal on track for its first weekly loss in five weeks. Spot gold was down 0.2 per cent at $1,231.22 per ounce in the intraday trade. The bullion was down 0.1 per cent this week.

2. In Delhi, gold of 99.9 and 99.5 per cent purity edged up by Rs 20 each to Rs 32,650 and Rs 32,500 per 10 grams, respectively. It had dropped by Rs 150 on Friday.

3. Sovereign, however, remained flat at Rs 24,900 per piece of eight grams. 

4. Silver ready traded higher by Rs 30 to Rs 39,530 per kg and weekly-based delivery rose Rs 274 to Rs 38,820 per kg. 

5. Silver coins were unaltered at Rs 76,000 for buying and Rs 77,000 for selling of 100 pieces.

(With agency inputs)