Gold, silver prices today: On Thursday, goldhad shed Rs 10.Gold prices rose by Rs 50 to Rs 31,700 per 10 gram at the bullion market on Friday, reported news agency Press Trust of India (PTI).
The strengthening in gold prices came in line with a firming trend overseas amid increased buying by local jewellers.
According to traders, gold edged up in sync with a firming global trend where prices of the metal rose Friday to a one-week high as the dollar weakened on receding fears of a full-blown China-US trade war.Here are key things to know about gold prices, silver rates today:1.
Persistent buying by local jewellers at the domestic spot market and diversion of funds from melting equity also supported the upmove in gold today, said traders.2.
However, silver shed Rs 20 to Rs 38,080 per kg on lack of buying support from consuming industries.3.
Globally, gold prices edged up on Friday to a one-week high as the dollar weakened on receding fears of a full-blown Sino-US trade war, keeping the yellow metal on track for its first weekly gain in four.4.
Gold rose 0.12 per cent to $1,208.30 an ounce and silver by 0.38 per cent to $14.36 an ounce in Singapore.5.
"Gold heads for first weekly increase in four weeks as the dollar retreats while many traders and funds see prices increasing in coming months and remain bullish for a fifth week.
In the evening session US will release service and manufacturing PMI hence dollar and gold is likely to be choppy.
Another key data would be Fed monetary policy which will come next week.
Hence gold prices might stay volatile", Jigar Trivedi, Fundamental Research Analyst - Anand Rathi Commodities, told TheIndianSubcontinent.6.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity recovered by Rs 50 each to Rs 31,700 and Rs 31,550 per 10 gram, respectively.7.On Thursday, goldhad shed Rs 10.8.Sovereign remained flat at Rs 24,500 per piece of eight gram.9.
Silver ready eased by Rs 20 to Rs 38,080 per kg, while weekly-based delivery rebounded by Rs 255 to Rs 37,575 per kg on speculative buying.10.
Silver coins held steady at Rs 72,000 for buying and Rs 73,000 for selling of 100 pieces.
(With agencies inputs)