Twitter
Advertisement

Bullion: Riding on positive global cues and increased

buying by local jewellers, gold regained its sheen to recapture the Rs 29,000-mark at the bullion market during the week.

Latest News
article-main
FacebookTwitterWhatsappLinkedin

buying by local jewellers, gold regained its sheen to recapture the Rs 29,000-mark at the bullion market during the week.

Silver too topped the Rs 38,000-level on increased offtake by industrial units and coin makers.

Bullion traders said, a firm trend overseas as the US Federal Reserve Janet Yellen's reiterated a call for gradual interest-rate hikes amid weakening dollar raised the demand of the precious metal, which mainly influenced gold prices here.

Besides, increased buying by jewellers at domestic spot market, supported the upside in the precious metals' prices, they added.

Globally, gold ended higher at USD 1,228.40 an ounce and silver at USD 15.96 an ounce in New York.

In the national capital, gold of 99.9 and 99.5 per cent purity commenced the week lower at Rs 28,780 and Rs 28,630 per ten grams on lack of buying support.

However, on the back of a firm global trend, it bounced back to recapture the Rs 29,000-mark and closed at Rs 29,050 and Rs 28,900 per ten grams respectively, showing a moderate rise of Rs 150 each.

Sovereign, however, moved in a narrow range in scattered deals throughout the week and settled at previous level of Rs 24,400 per piece of eight gram.

Silver ready ended the week higher by Rs 600 to Rs 38,000 per kg, while weekly-based delivery finished up by Rs 770 to Rs 37,000 per kg.

On the other hand, silver coins drifted lower by Rs 1,000 at Rs 70,000 for buying and Rs 71,000 for selling of 100 pieces.

 

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)

Find your daily dose of news & explainers in your WhatsApp. Stay updated, Stay informed-  Follow DNA on WhatsApp.
Advertisement

Live tv

Advertisement
Advertisement