Gold Prices Gain On Jewellers’ Buying: 5 Things To Know

Gold Prices Gain On Jewellers’ Buying: 5 Things To Know

Gold Prices Gain On Jewellers' Buying: 5 Things To Know

Sovereign gold, however, held steady at Rs. 27,500 per eight grams.

Gold prices gained by Rs. 160 to Rs. 35,880 per 10 grams on Tuesday, news agency Press Trust of India (PTI) reported. The increase came on the back of fresh buying from jewellers. Gold prices had fallen by Rs. 50 per 10 grams on Monday. Silver prices were also up by Rs. 150 to Rs. 42,050 per kilogram. The increase in prices of the white metal came due to increased offtake by industrial units and coin makers. The pick-up in demand helped the rally in the precious metal, the report quoted bullion traders as saying.

Here are key things to know about gold and silver prices today:

1. Globally, gold prices firmed ahead of a meeting of the US Federal Reserve where it is expected to signal how big an interest rate cut the world’s biggest economy could take, reported news agency Reuters.

2. Spot gold was up 0.1 per cent to $1,427.85 per ounce in intraday trade. US gold futures were up 0.6 per cent at $1,428.30 per ounce.

3. Gold of 99.9 per cent and 99.5 per cent purity rose Rs. 160 each to Rs. 35,880 per 10 grams and Rs. 35,710 per 10 grams, respectively in the national capital.

4. Sovereign gold, however, held steady at Rs. 27,500 per eight grams.

5. Silver ready gained Rs. 150 to Rs. 42,050 per kg and weekly-based delivery advanced by Rs. 53 to Rs. 41,239 per kg. Silver coins also traded higher by Rs. 1,000 at Rs. 85,000 for buying and Rs. 86,000 for selling of 100 pieces, respectively.