Gold Surges by Rs 240 on Firming Global Trends

Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    New Delhi, Apr 6 (PTI) Gold prices rose by Rs 240 to trade at over one-month high at Rs 27,250 per 10 grams at the bullion market today amid firming global trends and increased buying by jewellers and retailers.

    Silver also spurted by Rs 900 to Rs 38,500 per kg on increased offtake by industrial units and coin makers.

    Gold Surges by Rs 240 on Firming Global Trends

    Traders attributed the rise in gold prices to global cues after data showing the weakest pace of US hiring in more than a year clouded the outlook for interest-rate increases which boosted the demand for precious metals.

    Gold in Singapore, which normally sets price trend on the domestic front, increased by one per cent to USD 1,218.92 an ounce, the highest price since March 26.

    Besides, increased buying by jewellers and retailers to meet rising demand supported the uptrend, they said.

    In the national capital, gold of 99.9 per cent and 99.5 per cent purity climbed by Rs 240 each to Rs 27,250 and Rs 27,100 per 10 grams, respectively, a level last seen on March 2.

    The precious metal had gained Rs 435 in the previous three sessions.

    Sovereign, however, remained flat at Rs 23,700 per piece of eight grams.

    Following gold, silver ready recorded significant rise of Rs 900 to Rs 38,500 per kg and weekly-based delivery by Rs 830 to Rs 38,180 per kg. Check the gold rates in various cities here.

    Silver coins also spurted by Rs 1,000 to Rs 57,000 for buying and Rs 58,000 for selling of 100 pieces.

    PTI

    Read more about: gold silver
    Story first published: Monday, April 6, 2015, 15:56 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'
    India's LARGEST EVER political poll. Have you participated yet?

    Find IFSC

    Get Latest News alerts from Goodreturns

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more