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The trend of falling prices of gold and silver stopped today. Due to buying by jewelers, the price of gold in the national capital rose by Rs 600 to Rs 74,100 per 10 grams. In the previous trading session on Monday, gold of 99.9 percent purity closed at Rs 73,500 per 10 grams. According to the All India Sarafa Association, the price of silver also rose by Rs 700 to Rs 84,500 per kg. Its previous closing price was Rs 83,800 per kg. Apart from this, the price of gold of 99.5 percent purity rose by Rs 400 to Rs 73,750 per 10 grams. In the previous trading session, it closed at Rs 73,350 per 10 grams.
The boom returned due to increasing domestic demand.
Traders said that gold prices rose due to increased domestic demand. However, the weak trend abroad limited the gains. In foreign markets, Comex gold was trading at $ 2,532.10 an ounce. Manish Sharma, AVP-Commodity and Currency, Anand Rathi Shares and Stock Brokers, said, “Gold prices remained above the $ 2,500 level on Tuesday at the start of the European session, as traders were reluctant to place bets ahead of the US inflation report to be published in the coming days.” At the global level, the price of silver remained marginally higher at $ 28.70 an ounce.
Gold futures prices rise.
The price of gold on Tuesday rose by Rs 118 to Rs 71,746 per 10 grams in futures trade as speculators bought fresh deals amid strong spot demand. On the Multi Commodity Exchange, the price of the contract for delivery in October rose by Rs 118 or 0.16 percent to Rs 71,746 per 10 grams. Silver prices on Tuesday rose by Rs 389 to Rs 84,034 per kg in futures trade as traders increased the size of their deals amid strong spot demand.
