Gold rises by Rs 110 on global cues, jewellers’ buying

Team Udayavani, Apr 2, 2018, 5:05 PM IST

New Delhi: Gold rallied by Rs 110 to Rs 31,460 per 10 gram at the bullion market today, tracking a firm trend overseas amid sustained buying by local jewellers.

Silver also advanced by Rs 175 to Rs 39,375 per kg due to increased offtake by industrial units and coin makers.

Traders said sentiment remained upbeat on the back of a firm trend overseas as the dollar eased amid fresh concerns of trade tensions between the US and China.

Globally, gold rose 0.44 per cent to USD 1,330.80 an ounce and silver by 0.55 per cent to USD 16.44 an ounce in Singapore.

Besides, increased buying by local jewellers at domestic spot market too supported the uptrend, they said.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity rose further by Rs 110 each to Rs 31,460 and Rs 31,310 per 10 gram, respectively. It had gained Rs 50 in Saturday’s trade.

Sovereign however remained unaltered at Rs 24,800 per piece of eight gram in limited deals.

In sync with gold, silver ready strengthened by Rs 175 to Rs 39,375 per kg and weekly-based delivery by Rs 205 to Rs 38,525 per kg.

Silver coins however continued to trade at last level of Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces.