Gold Prices Rise By Rs 340, Silver Slips by Rs 130

Gold prices on Monday rose by Rs. 340 to Rs. 34,450 per 10 grams at the bullion market due to increased demand from local jewellers, reported news agency Press Trust of India quoting the All India Sarafa Association. Silver, however, declined by Rs. 130 to Rs. 41,530 per kg due to subdued offtake by industrial units and coin makers. Increased demand from jewellers pushed the prices of yellow metal, said the report citing traders. However, weak global cues capped the gain in the prices of precious metal, traders said.

Here are key things to know about gold, silver prices: 

1. In Delhi, gold of 99.9 per cent and 99.5 per cent purities advanced by Rs. 340 each to Rs.34,450 and Rs. 34,300 per 10 gram, respectively.

2. Sovereign gold, too gained Rs. 100 to Rs. 26,100 per eight grams.

3. Globally, gold prices slipped to their lowest in nearly a week on Monday as global stocks firmed on the back of upbeat economic data from the United States and a stronger dollar, reported news agency Reuters.

4. Spot gold was down about 0.5 per cent to $1,310.76 per ounce in intraday trade, having hit $1,326.30 on Thursday – its highest since April 26. US gold futures fell 0.5 per cent to $1,315 per ounce.

5. Silver ready declined by Rs. 130 to Rs. 41,530 per kg and weekly-based delivery saw a fall of Rs. 139 to Rs. 40,437 per kg. On the other side, silver coins traded at the previous level of Rs.80,000 for buying and Rs. 81,000 for selling of 100 pieces, respectively.

Courtesy: NDTV Profit (With agency inputs) Picture credits: Pixabay