Gold price gains Rs 1,050 in 18 days, Silver coins get costlier by Rs 3,000 as wedding season sparkles

January 3, 2018

Mumbai-India (Jan 3)  Gold prices have advanced Rs 1,050 per 10 grams in last 18 days of trading at the bullion market of national capital Delhi. However today, gold prices were flat ended at a rate of Rs 30,450 per 10 grams. From starting of December until 12 December 2017, gold prices were on a sinking trend following a low demand from local jewellers all across. The pressure on gold was also due to several other factors notably because of slumping prices in the international commodity market and weakening of gold in the overseas market which led the precious metal to touch a 5-month low ahead of a widely expected US interest rate hike around 12 December 2017.

From a price level of Rs 29,400 per 10 grams, gold prices have appreciated by Rs 1,050 in 18 days and now it is available at Rs 30,450 per 10 grams in the Delhi bullion market. On the other hand, silver prices also get a boost of more than Rs 2,000 in the corresponding period. Silver saw a rise of Rs 2,075 from a price level of Rs 37,775 and the metal is now available at Rs 39,850 per kg. Today only, silver prices shoot up by Rs 140 to Rs 39,850 per kg at the bullion market of Delhi. Meanwhile, silver coins also got costlier by Rs 3,000 to Rs 73,000 for buying and Rs 74,000 for selling of 100 pieces in the last 18-day period. Traders have attributed the rise in silver price to scattered demand from industrial units and coin makers at the domestic spot market.

Globally, gold fell 0.33% to $1,312.80 an ounce and silver by 0.64% to $17.04 an ounce in Singapore. In the national capital Delhi, gold of 99.9% and 99.5% purity held steady at Rs 30,450 and Rs 30,300 per 10 gram, respectively. On the other hand in the international market, gold prices edged down on Wednesday after hitting a 3-1/2-month high, as the dollar recovered from its lows. The precious metal earlier hit $1,321.33, its highest level since 15 September 2017. The dollar index, which measures the American currency against a basket of six major currencies, was up 0.1% at 91.964 after falling to a more than three-month low Tuesday.


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