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Gold regains glitter on jewellers' buying

Press Trust of India  |  New Delhi 

Reversing a two-day slide, prices climbed Rs 210 to Rs 31,990 per 10 grams at the market today on pick up in buying by local jewellers despite a weak trend overseas.

Silver also rebounded by Rs 120 to Rs 40,870 per kg on increased offtake by industrial units and coin makers.

Traders said fresh buying by local jewellers to meet seasonal demand at domestic spot market led to the recovery in prices but a a weak trend overseas capped the gains.

Globally, fell 0.12 per cent to USD 1,288.70 an ounce in

Depreciating rupee against the dollar also fuelled the uptrend in gold, they said.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity went up by Rs 210 each to Rs 31,990 and Rs 31,840 per 10 grams, respectively. The had lost Rs 670 in the last two sessions.

Sovereign, however, remained flat at Rs 24,800 per piece of eight grams.

Tracking gold, silver ready too rose by Rs 120 to Rs 40,870 per kg. Weekly-based delivery recaptured the Rs 40,000-mark by surging Rs 300 to Rs 40,170 per kg.

Silver coins, however, remained steady at Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, May 18 2018. 14:10 IST
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