Gold Prices Rise To 7-Week High On Local Demand And Global Cues

In today's trading session, gold gained in price to hit 7-week high at Rs. 30,750 per 10 grams, rising by Rs. 100 on the backdrop of positive cues from the international market and boost in local demand.

On similar lines silver also gained Rs. 100 to trade at Rs 39,900 per kg owing to increased demand from coin manufacturers and industrial units.

Bullion traders attributed the elevated price of gold to decline in dollar as well as sustained demand by jewelers at the spot market.

In the national capital, gold of 99.9% and 99.5% purity gained in price by Rs. 100 each to trade at Rs 30,750 and Rs 30,600 per 10 grams respectively.

While in the international markets, gold surged to US$ 1337.4 per ounce rising by 1.17% and silver rose 1.44% to trade at US$ 17.21 in trade yesterday in New York.

Silver ready also jumped to Rs. 39,900 per kg with an increase in price of Rs. 100 while weekly-based delivery spurted to Rs 39,120 per kg with an increase of Rs. 40.

The price of silver coins also jumped by Rs. 1000 to Rs. 74000 and Rs. 75000 for buying and for selling 100 units respectively.

With Inputs From PTI