Business Standard

Gold, silver gains on higher global cues


Press Trust of India Mumbai
Gold prices rose further by Rs 180 per 10 grams at the domestic bullion market here today on sustained demand from jewellery stockists and retailers on the back of firm overseas cues.

Marketmen said apart from a firm trend overseas as weakness in dollar boosted safe haven demand, persistent buying by local jewellers kept gold prices higher.

Silver too gained on persistent buying support for the third consecutive session from industrial units.

Standard gold (99.5 purity) climbed by Rs 180 to end at Rs 30,600 per 10 grams from last Friday's closing level of Rs 30,420.

Pure gold (99.9 purity) also moved up by a similar margin to finish at Rs 30,750 per 10 grams against Rs 30,570 previously.

Silver (.999 fineness) spurted by Rs 220 per kg to conclude at Rs 38,610 compared to Rs 38,390 last Friday.

Globally, Gold rose early today as a softer dollar helped the metal rebound from its biggest weekly loss this year, while traders awaited Federal Reserve Chair Jerome Powell's debut congressional testimony this week for clues on the next direction of trade.

Spot gold was up USD 1,339.75 an ounce at early European trade. Among other precious metals, silver was up at USD 16.72 an ounce.

Disclaimer: No Business Standard Journalist was involved in creation of this content

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First Published: Feb 26 2018 | 6:35 PM IST

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