Gold Prices Recover Today, Silver Slips By Rs 150: 10 Things To Know

Shrugging off weak trend overseas, gold prices rose by Rs 50 to Rs 30,485 per 10 grams at the bullion market today, reported news agency Press Trust of India (PTI). According to traders, fresh buying by local jewellers at the domestic spot market led to the retrieval in gold prices today. However, weak trend overseas also capped the rise. Meanwhile, silver remained under selling pressure and slipped below the Rs 39,000-mark by falling Rs 150 to Rs 38,850 per kg. 

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

1. Globally, gold slipped 0.05 per cent to $1,206.50 an ounce and silver shed 0.03 per cent to $15.28 an ounce in Singapore. 

2.  According to traders, a depreciating rupee against the dollar made imports of gold costlier, which supported the uptrend.

3. In the national capital, gold of 99.9 per cent and 99.5 per cent purity rallied by Rs 50 each to Rs 30,485 and Rs 30,335 per 10 grams, respectively. 

4. Sovereign gold remained flat at Rs 24,600 per piece of eight grams. 

5. Silver ready drifted further down by Rs 150 to Rs 38,850 per kg and weekly-based delivery traded lower by a similar margin to Rs 37,790 per kg. 

6. Silver coins too nose-dived by Rs 1,000 to Rs 73,000 for buying and Rs 74,000 for selling of 100 pieces. 

7. Gold demand was modest this week at major buying centres in Asia as a drop in prices attracted some investors, but most buyers held back purchases in anticipation of a further dip. 

8. Jewellers have been making small purchases as retail demand is still subdued, reported Reuters.

9. Prices fell to their lowest level in seven months in the country, which encouraged jewellers to replenish stocks.

10. Gold demand is set to improve in the second half of 2018, after falling 6 per cent in the first half, as government steps to boost farmers' incomes are expected to lift rural buying power, the World Gold Council (WGC) said on Thursday. (With Agencies inputs)