Gold Prices Jump, Break 4-Day Losing Streak: 5 Things To Know

Offsetting four days of losses, gold prices Monday recovered Rs 390 to close at Rs 31,850 per 10 grams at the bullion market in the national capital on rise in demand from local jewellers amid firm trend overseas, reported news agency Press Trust of India (PTI). Silver followed suit and shot up by Rs 800 to 37,360 kg on strong demand from industrial units and coin makers. Rise in demand from jewellers and retailers and strong global cues led to a spurt in gold prices, reported the agency citing traders. The precious metal had lost Rs 390 in the past four sessions.

Here are five things to know about gold, silver prices: 

1. Globally, gold climbed to a near one-month high on Monday as the dollar weakened after the United States and China agreed during the G20 summit in Argentina to a temporary truce in their trade war, reported news agency Reuters. Spot gold rose 0.7 per cent to $1,230.81 per ounce in intrday trade, having touched its highest level since November 7 at $1,232.22 earlier in the session.

2. In Delhi, gold of 99.9 per cent and 99.5 per cent purity rose by Rs 390 each to Rs 31,850 and Rs 31,700 per 10 grams, respectively.

3. Sovereign gold, however, held steady at Rs 24,700 per piece of 8 grams.

4. Meanwhile, silver ready spurted by Rs 800 to Rs 37,360 per kg, while weekly-based delivery declined by Rs 602 to Rs 35,749 per kg.

5. Silver coins, however, ended flat at Rs 72,000 for buying and Rs 73,000 for selling of 100 pieces. 

(With agency inputs)