Gold & Silver

Gold rises to Rs 30,830; silver rallies by Rs 235/kg

PTI New Delhi | Updated on January 08, 2018

Gold surged by Rs 80 to Rs 30,830 per ten gram today following uptick in festive season demand from jewellers and retailers at the domestic spot market amid a strong global trend.

Silver too rallied by Rs 235 to Rs 41,300 per kg due to higher offtake by industrial units and coin makers.

Bullion traders said gold prices jumped due to surge in festive season demand. Besides, firm global cues where gold rose to a two-week high amid muted dollar after minutes from the US Federal September policy meet revealed low inflation concerns, aided the uptrend.

Globally, gold rose 0.39 per cent to $1,296.10 an ounce in Singapore. Silver too gained 0.44 per cent to trade at $17.23 an ounce.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity recovered by Rs 80 each to Rs 30,830 and Rs 30,680 per ten gram, respectively. The metal had lost Rs 15 yesterday. Sovereign however remained steady at Rs 24,700 per piece of eight gram.

In sync with gold, silver ready moved up Rs 235 to Rs 41,300 per kg and weekly-based delivery traded higher by Rs 65 to Rs 40,330 per kg on speculative buying. Silver coins however remained unchanged at Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces.

Published on October 12, 2017

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