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Gold Prices Top Rs 39,000 As Bull Run Continues: 10 Things To Know

In Delhi, gold of 99.9 per cent and 99.5 per cent purity rose by Rs 675 each to Rs 39,670 and Rs 39,500 per 10 grams, respectively.

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Gold Prices Top Rs 39,000 As Bull Run Continues: 10 Things To Know

Sovereign gold also surged by Rs 700 to 29,500 per eight grams.

Gold prices rose for the fifth straight day on Monday and continued its record-setting spree. Gold prices hit a new record high of Rs. 39,670 per 10 grams in Delhi. The prices jumped by Rs. 675 on the back of persistent buying from jewellers, a weaker rupee and positive trend overseas. Gold prices have been hitting a fresh record high every day since August 20. Silver prices also jumped by Rs 1,450 to Rs 46,550 per kilogram. The increase came due to fresh offtake by industrial units and coin makers.
Here are 10 things to know about gold, silver prices today:
  1. In Delhi, gold of 99.9 per cent and 99.5 per cent purity rose by Rs 675 each to Rs 39,670 and Rs 39,500 per 10 grams, respectively.
  2. Sovereign gold also surged by Rs 700 to 29,500 per eight grams.
  3. Globally, gold jumped more than 1 per cent to surpass the $1,550 per ounce mark for the first time in more than six years on Monday as investors flocked to safe haven assets driven by the heightened US-China trade dispute.
  4. Spot gold was up 0.3 per cent at $1,530.63 per ounce in intraday trade, after hitting its highest since April 2013, at $1,554.56 earlier in the session. US gold futures were up 0.2 per cent at $1,540.30.
  5. "Feeble global equities and signs of escalating fragile global economic sentiments prompted investors to find shelter in safe assets like the yellow metal," PTI quoted Hareesh V, head (commodity research), Geojit Financial Services, as saying.
  6. He added that in the domestic market, prices surged to all-time highs supported by a strong international market and a feeble rupee.
  7. The rupee declined to as much as 72.25 - down 59 paise from the previous close - against the dollar in afternoon deals. That marked the lowest intraday level recorded for the rupee so far in calendar year 2019. 
  8. Gold futures hit an all-time high of Rs 39,196 ($548.26) per 10 grams in early trade, taking their gains to nearly 25 per cent in 2019.
  9. Silver ready was up by Rs 1,450 to Rs 46,550 per kg, while weekly-based delivery jumped by Rs 1,625 to Rs 45,291 per kg. Silver coins higher by Rs 3,000 to Rs 94,000 for buying and Rs 95,000 for selling of 100 coins.
  10. On Saturday, the bullion market in Delhi was closed on the account of Janmashtami. On Friday, gold prices had edged higher by Rs. 25 to Rs. 38,995 per 10 grams.




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