Gold firms up jewellers’ buying

April 22, 2019

Mumbai-India (April 22)  Silver declined by Rs 30 to Rs 38,570 per kg.  Gold prices on Monday surged by Rs 200 to Rs 32,870 per 10 gram in the national capital on fresh buying by local jewellers amid positive trend overseas, according to the All India Sarafa Association. Silver, however, declined by Rs 30 to Rs 38,570 per kg on reduced offtake by industrial units and coin makers.

Traders said gold surged on the back of a firm trend overseas as higher crude rates amid escalating tensions between the US and Iran, made bullion attractive as a safe-haven investment. Globally, spot gold was trading higher at USD 1,279.50 an ounce, while silver was up at USD 15.10 an ounce in New York.

On Saturday, the yellow metal shed Rs 20 to touch Rs 32,670 per 10 gram. On Monday, gold of 99.9 per cent and 99.5 per cent purity gained Rs 200 to Rs 32,870 and Rs 32,700 per 10 gram, respectively. Sovereign gold held steady at Rs 26,400 per eight gram.

Silver ready dropped Rs 30 to Rs 38,570 per kg, while weekly-based delivery rose by Rs 297 to Rs 37,527 per kg. Silver coins held flat at Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.


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