Gold Breaks 2-Day Fall, Recovers By 100 Rupees: 5 Things To Know

Gold prices rose by Rs 100 to Rs 31,850 per 10 gram on Monday amid buying by local jewellers and positive global sentiment, reported news agency Press Trust of India (PTI). The demand from local jewellers at the domestic spot market mainly kept gold prices higher following a positive trend overseas, traders were quoted as saying in the PTI report. Silver rates also increased by Rs 150 to Rs 37,450 per kg on Monday amid increased demand from industrial units. 

Here are 5 things to know about gold prices, silver rates on Monday:

1. In the national capital, gold of 99.9 per cent and 99.5 per cent purity rose by Rs 100 each to Rs 31,850 per 10 gram and Rs 31,700 per 10 gram, respectively. 

2. Sovereign gold a rose by Rs 100 to Rs 24,800 per piece of 8 gram. 

3. In the international market, gold was trading at $ 1,224.30 an ounce and silver was at $14.21 an ounce. 

4. "MCX gold is trading with positive tone on the first day of the week. This week will be important one as US may post Q3 GDP (Gross Domestic Product) on a higher side. We expect the yellow metal to be volatile in the week. Traders will also turn focus on US-China trade war mattes ahead of Argentina meet of group of 20 countries. The gold may continue to stay positive in the evening session due to weak dollar", said Jigar Trivedi, Fundamental Research Analyst, Anand Rathi Commodities.

5. In line with gold, silver ready advanced by Rs 150 to Rs 37,450 per kg and weekly-based delivery gained Rs 209 to Rs 36,309 per kg. Silver coins continued to be traded at the previous level of Rs 73,000 for buying and Rs 74,000 for selling of 100 pieces. 

(With inputs from agencies)