Gold rallied by Rs 110 to Rs 31,510 per ten gram at the bullion market on Thursday, largely in sync with overseas trend and increased buying by local jewellers, reported news agency Press Trust of India. Besides, a depreciating rupee which slumped to a historic low of 72.12 against the dollar, making imports costlier, aided the uptrend. Silver also went up by Rs 200 to Rs 37,800 per kg on increased offtake by industrial units and coin makers, it further said. Bullion traders said gold surged on the back of a firm global trend as the dollar weakened amid the US-China trade conflict.
Here are five key things to know about gold, silver prices today:
1. Globally, gold rose 0.22 per cent to $1,198.90 an ounce and silver by 0.32 per cent to $14.21 an ounce in Singapore.
2. In Delhi, gold of 99.9 and 99.5 per centpurity rallied by Rs 110 each to Rs 31,510 and Rs 31,360 per ten gram, respectively. The precious metal had gained Rs 200 in yesterday's trade. Sovereign however remained unaltered at Rs 24,500 per piece of eight gram.
3. "For yet another session, the yellow metal rallied on the MCX due to depreciating rupee. The Indian domestic currency has once again hit an all time low below 72. Comex gold also recovered to levels above $1,200. Today bunch of economic data will come in the evening session. US will release ADP Nonfarm payrolls, non-manufacturing PMI, factory orders & durable goods orders data will be coming in the evening session," said Jigar Trivedi, Fundamental Research Analyst, Commodities, Anand Rathi.
4. In line with overall trend, silver ready also gained Rs 200 to Rs 37,800 per kg and weekly-based delivery spurted by Rs 810 to Rs 37,115 per kg.
5. Silver coins remained unchanged at Rs 72,000 for buying and Rs 73,000 for selling of 100 pieces.
(With PTI Inputs)