Gold gains ₹100 on jewellers’ buying

Simgapore (May 28)  Gold prices surged by ₹100 to ₹32,870 per 10 gram; silver gained ₹50 to ₹37,550 per kg

Gold regained its glitter with prices surging by ₹100 to ₹32,870 per 10 gram in the national capital Tuesday on fresh buying by jewellers, according to the All India Sarafa Association.

Silver also gained ₹50 to ₹37,550 per kg on increased offtake by industrial units.

Traders said sentiment turned upbeat on the back of a pick-up in buying support from local jewellers, but said a weak trend overseas capped the gains.

Globally, spot gold was trading lower at $1,284.50 an ounce, while silver was down at $14.57 an ounce in New York.

In the national capital, gold of 99.9% and 99.5% purity rose ₹100 each to ₹32,870 and ₹32,700 per 10 gram, respectively.

Sovereign gold, however, held steady at ₹26,500 per eight gram.

On Monday, gold had declined ₹40 to ₹32,770 per 10 gram.

Silver ready Tuesday advanced by ₹50 at ₹37,550 per kg, while weekly-based delivery declined ₹72 to ₹36,426 per kg.

On the other hand, silver coins held flat at ₹79,000 for buying and ₹80,000 for selling of 100 pieces.

TheHindu