Gold Prices Rise By Rs 155 On Jeweller's Demand: 5 Things To Know

Gold prices on Tuesday rose by Rs 155 to close at Rs 32,650 per 10 gram at the bullion market due to increase in demand from local jewellers, reported news agency Press Trust of India (PTI).  Weakening rupee against the US dollar and positive global cues also aided the gain in the prices, traders were quoted as saying in the PTI report. However, sovereign gold held steady at Rs 25,000 per piece of 8 gram. On Monday, the yellow metal rose by Rs 145 to close at Rs 32,495 per 10 gram. 

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

1. In the national capital, gold of 99.9 per cent and 99.5 per cent purities surged Rs 155 each to close at Rs 32,650 and Rs 32,500 per 10 gram, respectively.

2. Globally, gold stood at $1,246.17 an ounce in New York and silver held steady at $14.59 an ounce.

3. "The international gold is still steady near 5-month high amid Brexit uncertainty. Investor are also weighing latest developments on the trade war front as China's Vice Premier, US treasury secretary and US trade representative spoke on phone and exchanged views on the timetable and map of future talks. In absence of any fresh cues in the evening session, we expect the yellow metal to remain under pressure," said Jigar Trivedi, Fundamental Research Analyst, Anand Rathi Commodities.

4. Silver ready rose by Rs 425 to Rs 38,575 per kg, while weekly-based delivery gained Rs 269 to Rs 38,159 per kg.

5. Silver coins however held steady at Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces. (With inputs from agencies)