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Gold price tops Rs 32,000-mark on firm global cues; silver hits 40k

Gold price tops Rs 32,000-mark on firm global cues; silver hits 40k

Sat Apr 14 2018


Gold regains Rs 32,000-mark on global cues


Bullion: Gold regained the Rs 32,000-mark at the bullion market, maintaining its upward march for the second straight week, driven by a firm global trend amid brisk buying by local jewellers.


Silver followed suit and recaptured the Rs 40,000-mark on increased offtake by industrial units and coin makers.


Bullion traders said, sentiment remained upbeat on the back of a firming trend overseas as tensions rose in the Middle East, raising demand for the precious metals as a safe-haven and increased buying by local jewellers to meet rising demand at the domestic markets.


In the coin makers, gold ended the week higher at USD 1,345.40 an ounce and silver at USD 16.63 an ounce in New York.


In the national capital, gold of 99.9 per cent and 99.5 per cent purity commenced the week higher at Rs 31,500 and Rs 31,350 per ten grams in day-to-day buying by local jewellers along with a firm trend overseas and rallied to hit a high of


Rs 32,150 and Rs 32,000 per ten grams, finally settling at Rs 32,100 and Rs 31,950 per ten grams, showing a gain of Rs 630 each.


Sovereign also improved and gained Rs 100 to Rs 24,900 per piece of eight grams.


Following gold, silver ready ended the week higher by Rs 800 to Rs 40,000 per kg and weekly-based delivery by Rs 690 to Rs 38,925 per kg in tune with overall trends.


Silver coins too spurted by Rs 1,000 to Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.