Gold Prices Rise To Over One-Month High: 5 Things To Know

Globally, gold fell 0.07 per cent to $1,204.40 an ounce in Singapore.

Gold prices gained Rs 100 to hit the Rs 31,000-mark today, reported news agency Press Trust of India (PTI). Gold prices traded at over one month high today due to persistent buying by local jewellers amid festive buzz, even as the metal weakened overseas. Silver prices also advanced by Rs 50 to Rs 38,300 per kg due to increased offtake by industrial units and coin makers. In the national capital, gold of 99.9 and 99.5 per cent purity climbed Rs 100 each to Rs 31,000 and Rs 30,750 per 10 gram, respectively, a level last seen on July 17, said PTI.

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

1. According to traders, increased buying by local jewellers to meet festive season demand at domestic spot market mainly kept gold prices higher, but a weak trend overseas capped the rise.

2. Globally, gold fell 0.07 per cent to $1,204.40 an ounce in Singapore. Gold inched lower as US dollar recovered slightly, but losses were curbed by short-covering after the metal gained nearly 2 per cent in the last session amid market perception of a dovish stance on interest rates by the US Federal Reserve.

3. The precious metal had gained Rs 280 in previous two days.

4. Sovereign remained unaltered at Rs 24,500 per piece of 8 gram in limited deals.

5. Following gold, silver ready strengthened by Rs 50 to Rs 38,300 per kg and weekly-based delivery by Rs 150 to Rs 37,150 per kg. Silver coins maintained a steady trend at Rs 72,000 for buying and Rs 73,000 for selling of 100 pieces