Gold rises ₹110 to ₹33,730 per 10 gm on jewellers’ buying

Mumbai-India (June 10)  Gold prices rose by ₹110 to ₹33,730 per 10 gram; Silver declined by ₹500 to ₹37,850 per kg

Gold prices rose by ₹110 to ₹33,730 per 10 gram in the national capital on Monday on fresh buying from jewellers despite the precious metal losing steam overseas, according to the All India Sarafa Association.

Silver, however, declined by ₹500 to ₹37,850 per kg on reduced offtake by industrial units and coin makers.

Traders attributed the rise in gold prices to pick up in demand from local jewellers in the domestic spot market, but said a weak trend overseas capped the gains.

Globally, spot gold was trading lower at $1,327 an ounce in New York amid easing global trade war concerns after the United States dropped its threat to impose tariffs on Mexico, which reduced the precious metal’s safe-haven appeal.

Meanwhile, silver was also quoting lower at $14.82 an ounce.

In the national capital, gold of 99.9% and 99.5% purity surged by ₹110 each to ₹33,730 per 10 gram and ₹33,560 per 10 gram, respectively.

Sovereign gold held steady at ₹26,700 per eight gram.

On Saturday, gold had risen by ₹200 to ₹33,620 per 10 gram.

Silver ready fell by ₹500 to ₹37,850 per kg, while weekly-based delivery slumped by ₹517 to ₹36,827 per kg.

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

TheHindu