New Delhi: Gold prices soared by Rs 350 to
trade at over 14-month high of Rs 31,450 per 10 gram today,
tracking a firm trend overseas amid pick-up in buying by local
jewellers.
Silver regained the Rs 41,000-mark by jumping Rs 1,100
on increased offtake by industrial units and coin makers.
Bullion traders attributed the rally in gold to a firm
trend overseas as the dollar weakened to near three-year lows
in the wake of comments by US Treasury secretary Steven
Mnuchin that he welcomed a weaker currency, raising demand for
the precious metal as a safe haven.
Besides, an uptick in seasonal buying by local jewellers
firmed up the prices, they added.
Globally, gold ruled firm as it rose 0.43 per cent to
trade at nearly 1-1/2 year high of USD 1,363.60 an ounce in
Singapore. Silver also rose by 0.29 per cent to USD 17.58 an
ounce.
In the national capital, gold of 99.9 per cent and 99.5
per cent purity shot up by Rs 350 each to Rs 31,450 and Rs
31,300 per ten gram, respectively, a level last seen on
November 9, 2016. It had gained Rs 25 in yesterday's trade.
Sovereign however held steady at Rs 24,800 per piece
of eight gram.
Tracking gold, silver ready jumped Rs 1,100 to Rs 41,000
per kg and weekly-based delivery Rs 1,190 to Rs 40,130 per kg.
Silver coins however remained steady at Rs 74,000 for
buying and Rs 75,000 for selling of 100 pieces.
PTI
