Bad News For Jewellery Buyers! Gold Silver Prices Down

Gold Silver Reports (GSR) – Gold prices surged on Thursday after falling for three straight days, largely on fresh buying by jewellers at the domestic spot market, coupled with a better trend globally.

Globally, gold rose 0.11 per cent to USD 1,228 an ounce, while silver traded higher at USD 14.59 an ounce in Singapore as weakness in the dollar raised demand for the precious metal as a safe haven.

Read More: Gold Prices Up For Third Day, Silver Continues Slip

Gold went past the Rs 32,000-mark by gaining Rs 90 to trade at Rs 32,040 per 10 gram at the bullion market on Thursday on fresh buying by local jewellers amid a firm trend overseas. Silver too firmed up by Rs 200 to Rs 38,000 per kg on the back of increased offtake by industrial units.

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In the national capital, gold of 99.9 per cent and 99.5 per cent purity rebounded by Rs 90 each to Rs 32,040 and Rs 31,890 per 10 gram, respectively. It had lost Rs 200 in the previous three days.

In line with gold, silver ready recovered by Rs 200 to Rs 38,000 per kg, while weekly-based delivery by Rs 302 to Rs 36,888 per kg.

Sovereign gold, however, held steady at Rs 24,800 per piece of 8 gram on little doing.

Silver coins were unaltered at Rs 73,000 for buying and Rs 74,000 for selling of 100 pieces.

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Neal Bhai has been involved in the Bullion and Metals markets since 1998 – he has experience in many areas of the market from researching to trading and has worked in Delhi, India. Mobile No. - 9899900589 and 9582247600

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