Gold Prices Break 2-Day Falling Streak – Gold Silver Reports

Gold Silver Reports (GSR) – Gold prices on Thursday rose by Rs. 150 to Rs. 32,870 per 10 grams on fresh buying from jewellers, reported news agency Press Trust of India (PTI) quoting the All India Sarafa Association. Silver also gained Rs. 295 to Rs. 38,520 per kg on more offtake by industrial units and coin makers.

Besides increased buying from local jewellers, a depreciating rupee which slumped to Rs. 70 against the dollar aided the uptrend, said the report citing traders. The rupee slumped 22 paise to 70.08 against the dollar in early trade on Thursday due to rising global crude prices and fresh demand for the American currency from importers.

About gold, silver prices Update and Reports : –

Spot gold rose 0.2 per cent to $1,277.72 per ounce in intraday trade. US gold futures were steady at $1,279.60 an ounce.

Gold prices edged up on Thursday as a dip in equities and weak economic data from far and wide raised flags about the pace of global economic growth, while a firm dollar curbed further gains for the metal, reported news agency Reuters.

However, sovereign gold held steady at Rs. 26,400 per eight grams.

Silver ready surged Rs. 295 to Rs. 38,520 per kg, while weekly-based delivery rose by Rs. 376 to Rs. 37,381 per kg. On the other hand, silver coins held flat at Rs.80,000 for buying and Rs. 81,000 for selling of 100 pieces.

In Delhi, gold of 99.9 per cent and 99.5 per cent purity advanced by Rs. 150 to Rs. 32,870 and Rs. 32,700 per 10 grams, respectively. Gold prices on Wednesday declined by Rs. 50 to Rs. 32,720.

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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