Gold Prices Increase On Jeweller's Buying: 5 Things To Know

Gold prices increased by Rs 90 to Rs 33,070 per 10 gram in the national capital on Wednesday, reported news agency Press Trust of India (PTI) quoting the All India Sarafa Association. The increased buying from jewellers amid firm trend overseas led to the rally in gold prices, analysts were quoted as saying in the PTI report. Silver rates also rallied by Rs 715 to Rs 38,725 per kg on increased offtake by industrial units and coin makers. On Tuesday, gold prices had declined by Rs 235 while silver rates had witnessed a fall of Rs 660.

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

1. In the national capital, gold of 99.9 per cent and 99.5 per cent purity advanced by Rs 90 each to Rs 33,070 and Rs 32,900 per 10 gram, respectively. 

2. According to analysts, gold prices crossing $1,300 an ounce overseas influenced the sentiment in the domestic market thereby leading to upward movement of gold prices. 

3. In the international market, spot gold was trading higher at $1,305 an ounce while silver stood steady at $15.31 an ounce in New York. 

4. However, sovereign gold held steady at Rs 26,400 per piece of eight gram. 

5. Silver ready surged by Rs 715 to Rs 38,725 per kg, while weekly-based delivery slumped Rs 87 to Rs 37,743 per kg. Silver coins, too, were in good demand and traded higher by Rs 1,000 at Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces, respectively. 

(With inputs from PTI)