Gold Prices Jump On Positive Global Cues: 5 Things To Know

Gold prices on Tuesday jumped by Rs 130 to Rs 32,350 per 10 grams at the bullion market on increased buying by local jewellers amid positive global trends, reported news agency Press Trust of India. Silver also rallied by Rs 250 to Rs 39,750 per kg backed by increased offtake by industrial units and coin makers, it further said. Traders said apart from a firm trend overseas, fresh buying by local jewellers at domestic spot market led to the recovery in gold prices. The precious metal had lost Rs 50 on Monday.    

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

1. Globally, gold prices edged higher on Tuesday as Asian stocks faltered, weighed down by political tensions between Saudi Arabia and Western powers, uncertainties around Brexit and Italy's budgetary woes, reported news agency Reuters. Spot gold was up 0.2 per cent at $1,223.66 an ounce in the intraday trade. US gold futures rose 0.2 per cent to $1,226.5 an ounce.

2. In the national capital, gold of 99.9 per cent and 99.5 per cent purity rose by Rs 130 each to Rs 32,350 and Rs 32,200 per 10 grams, respectively. 

3. Sovereign gold, however, remained flat at Rs 24,700 per piece of 8 grams.    

4. Following gold, silver ready rose by Rs 250 to Rs 39,750 per kg and weekly-based delivery by Rs 251 to Rs 39,010 per kg.    

5. Silver coins, however, continued to be traded at previous level of Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.

(With agency inputs)