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Gold Prices Spurted by Rs 150 to Rs 32,500 per 10 Grams

In the national capital, gold of 99.9 per cent and 99.5 per cent purity advanced by Rs. 150 each to Rs. 32,500 and Rs. 32,350 per 10 grams, respectively.

Gold prices, spurted by Rs. 150 to trade at this year’s high of Rs. 32,500 per 10 grams at the bullion market today on persistent buying by local jewellers amid a firm trend overseas, reported .

Silver, however, shed Rs. 20 to Rs. 39,730 per kg owing to reduced offtake by industrial units. Traders said increased buying by local jewellers to meet festive and wedding season demand and a firm trend overseas mainly lifted gold prices to this year’s highest level.

Things to know about gold and silver prices today:

1. In the national capital, gold of 99.9 per cent and 99.5 per cent purity advanced by Rs. 150 each to Rs. 32,500 and Rs. 32,350 per 10 grams, respectively, its highest level this year. The yellow metal had gained Rs. 130 on Tuesday. The precious metal had traded at Rs. 32,450 per 10 gram on May 15. Sovereign too traded higher by Rs. 100 at Rs. 24,800 per piece of eight grams.

2. Globally, gold prices nudged up on Wednesday after hitting their highest in over three months in the previous session, with international political and economic uncertainty underpinning safe-haven demand for the metal, reported . Spot gold was up 0.1 percent at $1,231.27 an ounce in the intraday trade. On Tuesday, it touched its highest since July 17 at $1,239.68.

3. “COMEX Gold edged up near three-month high amid good safe haven buying. Global stocks extended declines as diplomatic tensions in Saudi Arabia, concerns over Italy’s Budget and ongoing Brexit talks all depressed the sentiments,” said Jigar Trivedi, Fundamental Research Analyst, Anand Rathi Commodities.

4. On the other hand, silver ready eased by Rs. 20 to Rs. 39,730 per kg and weekly-based delivery by Rs. 50 to Rs. 39,010 per kg.

5. Silver coins, however, spurted by Rs. 1,00 to Rs. 76,000 for buying and Rs. 77,000 for selling of 100 pieces.

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