Gold Prices Rise For Third Straight Day, Cross 32,800 Rupees
Extending gains for the third straight session, gold prices on Thursday surged by Rs 335 to Rs 32,835 per 10 grams at the bullion market in the national capital, reported news agency Press Trust of India (PTI). The jump came amid weaker rupee against dollar, reported the agency citing All India Sarafa Association. Silver, too, followed gold by gaining Rs 350 to Rs 39,700 per kg due to increased demand from industrial units and coin makers. On Tuesday and Wednesday, gold prices gained by Rs 200 and Rs 30, respectively.Ā
Weaker rupee against dollar and safe haven buying contributed the surge in the prices of the yellow metal, said PTI quoting traders. Besides, firm trend overseas helped the rise in gold prices, traders added.
In Delhi, prices of gold of 99.9 per cent and 99.5 per cent purities gained Rs 335 each to Rs 32,835 per 10 grams and Rs 32,685 per 10 grams, respectively. Sovereign gold, however, remained unchanged at Rs 25,200 per piece of 8 grams.
Gloablly, gold prices scaled a more than six-month peak on Thursday as worries about a global economic slowdown and volatility in equities boosted safe-haven buying, while a weaker dollar offered support, reported news agency Reuters.
Spot gold touched its highest since June 15 at $1,292.01 per ounce, and was up 0.6 per cent at $1,291.81 at intraday trade.
Silver ready advanced Rs 350 to Rs 39,700 per kg and weekly-based delivery witnessed a rise of Rs 617 to Rs 39,365 per kg. Silver coins, however, remained unchanged at Rs 76,000 for buying and Rs 77,000 for selling of 100 pieces.Ā
(With agency inputs)
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