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Gold Prices Rise For Second Straight Day


Sovereign gold however remained unchanged at Rs 25,200 per piece of 8 grams.

Gold prices edged up by Rs 30 to Rs 32,500 per 10 grams at the bullion market on Wednesday due to a firm trend overseas, reported news agency Press Trust of India. Similarly, silver gained Rs 100 to Rs 39,350 per kg on increased demand from industrial units and coin makers. Positive global cues and marginal demand from local jewellers led to the rise in gold prices, reported the agency citing bullion traders. On Tuesday, gold rose by Rs 200 per 10 grams.    

In Delhi, gold of 99.9 per cent and 99.5 per cent purity rallied by Rs 30 each to Rs 32,500 per 10 grams and Rs 32,350 per 10 grams, respectively. Sovereign gold however remained unchanged at Rs 25,200 per piece of 8 grams.

Globally, gold scaled a more than six-month peak on Wednesday as the dollar fell along with Asian equities after disappointing data from China cemented fears of a slowdown in global economic growth, reported news agency Reuters.

Spot gold was up 0.28 per cent at $1,285.71 an ounce in intrday trade, after hitting its highest since June 15, 2018 at $1,287.31 earlier in the session.

US gold futures rose 0.5 per cent to $1,287.80 per ounce.

Silver ready advanced by Rs 100 to Rs 39,350 per kg and weekly-based delivery saw a mild rise of Rs 23 to Rs 38,748 per kg. Silver coins, however, remained unchanged at Rs 76,000 for buying and Rs 77,000 for selling of 100 pieces.

(With agency inputs)



Updated: January 2, 2019 — 12:47 pm

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