Gold Prices Jump By 360 Rupees: 5 Things To Know

Gold prices on Thursday rose by Rs 360 to Rs 34,830 per 10 grams at the bullion market on increased buying from local jewellers, reported news agency Press Trust of India (PTI) quoting the All India Sarafa Association. Silver, however, fell by Rs 140 to Rs 41,660 per kg on decreased offtake by industrial units. Sentiment in the domestic market turned upbeat on the back of increased buying by jewellers and retailers, leading to a rise in the prices of the yellow metal, said the report citing traders. They, however, added that the further gains were capped by weak global market.

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

1. In Delhi, gold of 99.9 per cent and 99.5 per cent purities advanced by Rs 360 each to Rs 34,830 and Rs 34,680 per 10 grams, respectively. The gold prices on Wednesday had dropped Rs 210.    

2. Sovereign gold rose by Rs 200 to Rs 26,600 per piece of 8 grams.

3. Globally, gold was trading below the previous session's 10-month peak on Thursday as the dollar inched up after minutes from the last US Federal Reserve meeting rekindled expectations of another rate hike this year, reported news agency Reuters.

4. Spot gold inched up by 0.1 per cent to $1,339.88 per ounce in intraday trade, having touched $1,346.73 per ounce in the previous session, its highest level since April 19. US gold futures were down 0.4 per cent at $1,342.8 an ounce.    

5. On the other hand, silver ready declined by Rs 140 to Rs 41,660 per kg, while weekly-based delivery decreased by Rs 51 to Rs 40,501 per kg. However, silver coins were in good demand and traded higher by Rs 1,000 at Rs 83,000 for buying and Rs 84,000 for selling of 100 pieces.

(With agency inputs)