Home Business Gold Prices Rise For Second Straight Day: 5 Things To Know

Gold Prices Rise For Second Straight Day: 5 Things To Know


Extending its gain for the second straight day, gold prices on Tuesday gained marginally byRs. 25 to Rs. 33,125 per 10 grams at the bullion market in the national capital on firm trend overseas, according to the All India Sarafa Association reported news agency Press Trust of India (PTI). Silver, similarly, advanced by Rs. 100 to Rs. 40,200 per kg on increased demand from industrial units and coin makers. Besides firm trend overseas, increase in demand from jewellers due to a weaker rupee against the dollar aided the surge in the prices of the precious metal, said the report citing traders.

Here are 5 things to know about gold, silver prices today:

1. Earlier in the day, the rupee had breached the Rs. 71-mark against the dollar.

2. In Delhi, gold of 99.9 per cent and 99.5 per cent purities advanced by Rs. 25 each to Rs.33,125 and Rs. 32,975 per 10 grams, respectively. On Monday, gold had surged by Rs. 225. However, sovereign gold held steady at Rs. 25,400 per piece of eight grams.

3. Globally, gold prices held steady on Tuesday, supported by market expectations of fewer interest rate hikes in the year by the US Federal Reserve, while a bounce in Chinese equities stoked interest in riskier assets, reported news agency Reuters. Spot gold had edged down about 0.1 per cent to $1,289.86 per ounce in intraday trade.

4. Silver ready gained by Rs. 100 to Rs. 40,200 per kg, while weekly-based delivery rose by Rs. 304 to Rs. 39,921 per kg.

5. Silver coins, however, held flat at Rs. 77,000 for buying and Rs. 78,000 for selling of 100 pieces.

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