Gold rises ₹150 on jewellers’ buying, weak rupee

Mumbai-India (April 25)  Gold prices on April 25 rose by ₹150 to ₹32,870 per 10 gram in the national capital on fresh buying from jewellers, according to the All India Sarafa Association.

Silver also gained ₹295 to ₹38,520 per kg on more offtake by industrial units and coin makers.

Traders said besides increased buying from local jewellers, a depreciating rupee which slumped to ₹70 against the dollar aided the uptrend.

The rupee slumped 22 paise to 70.08 against the dollar in early trade on April 25 due to rising global crude prices and fresh demand for the American currency from importers.

Globally, spot gold was trading higher at $1,278.50 an ounce, while silver was trading lower at $14.99 an ounce in New York.

In the national capital, gold of 99.9% and 99.5% purity advanced by ₹150 to ₹32,870 and ₹32,700 per 10 gram, respectively.

However, sovereign gold held steady at ₹26,400 per eight gram.

Silver ready surged ₹295 to ₹38,520 per kg, while weekly-based delivery rose by ₹376 to ₹37,381 per kg.

On the other hand, silver coins held flat at ₹80,000 for buying and ₹81,000 for selling of 100 pieces.

TheHindu