Gold price rules flat at ₹39,670; silver gains ₹190

Mumbai-India (Aug 27)  Gold prices held steady at ₹39,670 per 10 gram; Silver gained ₹190 to ₹46,740 per kg

After rising for five consecutive days, gold prices on August 27 held steady at ₹39,670 per 10 gram in the national capital, according to the All India Sarafa Association.

Gold had touched its all-time high mark of ₹39,670 on August 26.

Silver gained ₹190 to ₹46,740 per kg on increased offtake by industrial units and coin makers.

Globally, gold was trading higher at $1,531.40 an ounce in New York, while silver was up at $17.78 an ounce.

Globally, gold prices remained firm despite recovery in global equity indices amid easing worries about trade war, HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

“In a recent development, the U.S. and China have agreed to restart the trade talks,” Mr. Patel said, adding that investors are awaiting more clarity on the talks.

On the domestic front, “the spot rupee was trading 30 paise stronger against dollar which has limited the gains in gold prices,” he said.

In the national capital, gold of 99.9% and 99.5% purity held flat at ₹39,670 and ₹39,500 per 10 gram, respectively.

Sovereign gold held steady at ₹29,500 per eight gram.

Silver ready advanced ₹190 to ₹46,740 per kg, while weekly-based delivery declined ₹164 to ₹45,127 per kg.

Silver coins were in good demand and traded higher by ₹2,000 at ₹96,000 for buying and ₹97,000 for selling of 100 coins.

TheHindu