Gold Prices Rise On Renewed Demand: 10 Things To Know

Snapping its downward trend, gold prices witnessed a rise of Rs 200 to Rs 33,270 per 10 grams at the bullion market on Friday in the national capital, reported news agency Press Trust of India (PTI) quoting the All India Sarafa Association. Fresh buying from jewellers amid firm trend overseas led to the strengthening of the yellow metal, traders were quoted as saying in the PTI report. In the previous six sessions, gold rates had declined by a total of Rs 1,130.

Here are 10 things to know about gold prices, silver rates:

1. In the national capital, gold of 99.9 per cent and 99.5 per cent purities gained Rs 200 each to Rs 33,270 and Rs 33,100 per 10 grams, respectively. 

2. Globally, spot gold traded higher at $1290.60 an ounce and silver held steady at $ 15.08 an ounce in New York. 

3. According to traders, china's export data registering a decline thereby indicating a weaker global economic outlook, led to safe-haven buying from the jewelers. 

4. Besides, firm trend overseas also aided in upward movement of the yellow metal, they added.

5. However, sovereign gold held steady at Rs 26,400 per 8 grams 

6. Tracking gold, silver prices advanced by Rs 120 to Rs 39,100 per kg due to increased offtake by industrial units. 

7. The weekly-based delivery of silver advanced by Rs 108 to Rs 38,310 per kg.

8. Silver coins held flat at Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.

9. The dollar index, meanwhile, was down 0.2 per cent, having hit a near three-month peak in the previous session after the European Central Bank (ECB) postponed an interest rate hike until 2020, according to news agency Reuters.

10. Asian stocks, on the other hand, also shuddered lower after shockingly weak export data from China heightened market fears about global growth.

(With inputs from agencies)