Gold Prices Increase On Firm Global Cues: 5 Things To Know

Gold prices on Wednesday rallied by Rs 235 to Rs 33,385 per 10 gram on increased buying by local jewellers amid a firm trend overseas, reported news agency Press Trust of India (PTI) quoting the All India Sarafa Association. Silver too advanced by Rs 130 to Rs 39,710 per kg on increased offtake by industrial units and coin makers. Gold prices surged due to fresh buying by local jewellers, said the report citing traders. Besides, the metal crossing $1,300-an-ounce mark overseas influenced the sentiment.

Here are 5 things to know about gold, silver prices:
     
1. In Delhi, gold of 99.9 per cent and 99.5 per cent purity rose by Rs 235 to Rs 33,385 and Rs 33,215 per 10 gram, respectively. Gold prices had fallen by Rs. 100 on Tuesday. 

2. Sovereign gold, however, remained flat at Rs 26,400 per eight grams.

3. Gold scaled a near two-week peak on Wednesday, after reclaiming the key $1,300 level in the previous session, as investors opted for the safe-haven metal after British lawmakers rejected an amended exit deal, while a weaker dollar lent further support, reported news agency Reuters.

4. Spot gold was up 0.2 per cent at $1,304.53 per ounce, in intraday trade after touching its highest since March 1 at $1,305.69 earlier in the session. US gold futures rose 0.5 percent to $1,304.80 an ounce.

5. Silver ready rose Rs 130 to Rs 39,710 per kg and weekly-based delivery by Rs 108 to Rs 38,768 per kg. Price for a lot of 100 silver coins remained flat at Rs 80,000 for purchase and Rs 81,000 for sale.

(With agency inputs)