Business / Gold Prices Rise By Rs. 90 On Strong Global Cues

NDTV : Feb 23, 2019, 04:20 PM
Gold prices advanced by Rs. 90 to Rs. 34,590 per ten gram at the bullion market on Saturday, tracking a firm trend overseas amid increased buying by local jewellers, reported news agency Press Trust of India (PTI) quoting the All India Sarafa Association. Silver rates, also, rose by Rs. 140 to Rs. 41,500 per kg on increased offtake by industrial units and coin makers, the report added. 

Here are 5 things to know about gold prices, silver rates:

1. In the national capital, gold of 99.9 per cent and 99.5 per cent purities surged by Rs. 90 each to Rs. 34,590 and Rs. 34,440 per ten grams, respectively. 

2. Firm trend overseas and sustained buying by local jewellers and retailers to meet ongoing wedding season demand led to the recovery in gold prices, traders were quoted as saying in the PTI report.

3. Sovereign remained unaltered at Rs. 26,600 per piece of eight grams. 

4. Globally, gold spot ended the week at $1,328.90 an ounce and silver at $16 an ounce in New York. Gold futures too traded higher at $1,330.65, while silver futures at $15.88 an ounce. 

5. Silver ready bounced Rs. 140 to Rs. 41,500 per kg and weekly-based delivery rose by Rs. 110 to Rs. 40,268 per kg. Silver coins traded higher by Rs. 1,000 at Rs. 83,000 for buying and Rs. 84,000 for selling of 100 pieces.