Gold prices, rose by Rs. 195 to Rs. 32,225 per 10 grams today on increased buying by local jewellers to meet festive season demand, reported.
Silver followed suit and recovered by Rs. 20 to Rs. 39,500 per kg due to increased offtake from industrial units and coin makers. Traders attributed the rise in gold prices to increased buying by local jewellers, driven by ongoing festive season.
Besides, weakness in the rupee, making imports costlier, also fuelled the upward trend in gold prices. Prices of the yellow metal had declined by Rs. 150 to Rs. 32,030 per 10 grams Wednesday.
Things to know about gold, silver prices today:
1. Globally, gold prices held steady today as a fall in Asian shares was offset by a stronger dollar, which firmed after minutes of the Federal Reserve’s September meeting reinforced expectations of a tighter US monetary policy, reported .
Spot gold was flat at $1,222.23 an ounce in the intraday trade, staying close to its highest since July 26 at 1,233.26 an ounce hit on Monday. US gold futures were down 0.2 per cent at $1,225.20 an ounce.
2. In Delhi, gold of 99.9 per cent and 99.5 per cent purity rose further by Rs. 195 each to Rs. 32,225 and Rs. 32,075 per 10 grams, respectively.
3. Sovereign gold, continued to be traded at previous level of Rs. 24,700 per piece of eight grams.
4. Following the rise in gold, silver-ready spurted Rs. 20 to Rs. 39,500 per kg and weekly-based delivery dropped by Rs. 20 to Rs. 38,840 per kg.
5. Silver coins too traded steady at Rs. 75,000 for buying and Rs. 76,000 for selling of 100 pieces as against previous level of Rs. 73,000 and Rs. 74,000, respectively.>