Gold Prices Move Higher: 5 Things To Know

Gold prices on Tuesday rose by Rs 30 to Rs 32,850 per 10 grams here on the back of demand from jewellers, reported news agency Press Trust of India (PTI) quoting the All India Sarafa Association. Silver, however, declined by Rs 180 to Rs 38,400 per kg on reduced offtake by industrial units and coin makers. Despite weak overseas trends, gold prices saw an upward movement due to rise in domestic demand, said the PTI report citing traders. Gold prices on Monday had advanced by Rs 85 to Rs. 32,820.

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

1. Globally, gold prices slipped to a more than three-week low on Tuesday as waning global economic slowdown concerns dented the precious metal's safe-haven appeal and lifted equities to multi-month highs, reported news agency Reuters.

2. Spot gold was down 0.1 per cent at $1,286.82 per ounce in intrdaday trade, having touched its lowest since March 7 at $1,284.76 earlier in the session. U.S. gold futures fell about 0.3 percent to $1,291.

3. In Delhi, gold of 99.9 per cent purity rose by Rs 30 to Rs 32,850 per 10 grams while gold of 99.5 per cent purity increased by Rs 50 to Rs 32,700 per 10 grams.

4. Sovereign gold, however, remained unchanged at Rs 26,400 per eight grams.

5. Silver ready fell by Rs 180 to Rs 38,400 per kg and weekly-based delivery held almost steady at Rs 37,448 per kg. Silver coins were unchanged at Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.

(With agency inputs)