Friday, June 14, 2024
Advertisement
  1. You Are At:
  2. News
  3. Business
  4. Gold climbs Rs 475 on jewellers' buying, silver gains Rs 378

Gold climbs Rs 475 on jewellers' buying, silver gains Rs 378

Tracking gold, silver also gained Rs 378 to Rs 44,688 per kg on increased offtake by industrial units and coin makers.

Reported by: PTI New Delhi Published on: August 16, 2019 15:45 IST
Gold climbs Rs 475 on jewellers' buying, silver gains Rs 378
Image Source : FILE IMAGE

Gold climbs Rs 475 on jewellers' buying, silver gains Rs 378

Gold prices on Friday surged Rs 475 to Rs 38,420 per 10 gram at the bullion market here, on fresh buying from jewellers, according to the All India Sarafa Association.

Tracking gold, silver also gained Rs 378 to Rs 44,688 per kg on increased offtake by industrial units and coin makers.

Pick-up in demand from local jewellers at the domestic spot market led to the rise in gold prices, analysts said. They, however, added that the weak global trend restricted the gains.

Globally, gold was trading lower at USD 1,513 an ounce in New York and silver was down at USD 17.26 an ounce.

"Globally, gold witnessed selling after US retail sales data showed strength, signalling retail consumption growth. The improved investment sentiment supported higher trade in global equities lowering demand for safe haven in gold," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

However, public unrest in Hong Kong and trade war worries may limit the fall in international gold prices, he added.

On Thursday, the bullion market was closed in the national capital on account of 'Independence Day'.

In the national capital, gold of 99.9 per cent and 99.5 purity on Friday surged Rs 475 each to Rs 38,420 and Rs 38,250 per 10 gram, respectively.

Sovereign gold held flat at Rs 28,700 per eight grams.

Silver ready rose Rs 378 to 44,688 per kg, while weekly-based delivery advanced by Rs 594 to Rs 43,824 per kg.

Silver coins were in good demand and traded higher by Rs 1,000 at Rs 90,000 for buying and Rs 91,000 for selling of 100 pieces.

ALSO READ: Gold retouches all-time high mark of Rs 38,470 on jewellers' buying

ALSO READ: Silver touches all-time high mark of Rs 45,000; gold falls by Rs 100

ALSO READ: Planning to invest in gold? Buy 10 grams and save Rs 3,000 right away. Here's how

Advertisement

Read all the Breaking News Live on indiatvnews.com and Get Latest English News & Updates from Business

Advertisement
Advertisement
Advertisement
Advertisement