Gold edges up on jewellers' buying
After falling for two straight days, gold prices recovered by Rs 40 to Rs 31,290 per 10 grams at the bullion market today on scattered buying by local jewellers even as the metal weakened overseas.
By : migrator
Update: 2018-03-17 10:37 GMT
New Delhi
However, silver lost another Rs 150 to Rs 39,100 per kg on reduced offtake by industrial units and coin makers amid subdued global cues.
Traders attributed recovery in gold prices to some buying by local jewellers at domestic spot market, but bearish trend overseas capped the rise.
Globally, gold fell 0.16 per cent to USD 1,313.60 an ounce and silver by 0.21 per cent to USD 16.33 an ounce in New York in yesterday's trade.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity edged up by Rs 40 each to Rs 31,290 and Rs 31,140 per 10 grams, respectively. The precious metal had lost Rs 265 in the previous two sessions.
Sovereign, however, remained unaltered at Rs 24,800 per piece of eight grams.
On the other hand, silver ready fell further by Rs 150 to Rs 39,100 per kg and weekly-based delivery by Rs 190 to Rs 38,370 per kg.
Silver coins, however, held steady at Rs 73,000 for buying and Rs 74,000 for selling of 100 pieces.
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