INSUBCONTINENT EXCLUSIVE:
Sovereign gold advanced by Rs 200 at 28,800 per eight grams.
Rising for second day in a row, gold
prices registered a new record high on Wednesday
Gold prices rose by Rs 50 to hit an all-time high of Rs 38,820 per 10 gram in Delhi, news agency Press Trust of India (PTI) reported
The rise in gold prices came due to increase in the domestic spot market demand
However, a weak trend in the international market restricted the gains, the report quoted traders as saying
Silver prices also gained by Rs 1,140 to Rs 45,040 per kilogram
The jump came on fresh offtake by industrial units and coin makers
the US Federal Reserve's last meeting, which is expected to shed more light on interest rate cuts, news agency Reuters reported.Spot gold
was down 0.5 per cent at $1,499.18 per ounce in intraday trade, with analysts also attributing the dip to profit-booking following the
metal's recent strong run, which saw it gain more than $80 this month.US gold futures slipped 0.4 per cent to $1,509.70."Globally, gold
prices are awaiting key events of the week including tonight's FOMC minutes, which will set the tone for future rate cut expectations,"
PTI quoted Tapan Patel, senior analyst (commodities), HDFC Securities
anticipate risk pertaining to the markets, Mr Patel added
prices on Tuesday had gained by Rs 200 and touched a high of Rs
38,770 per 10 grams in Delhi.Sovereign gold advanced by Rs 200 at 28,800 per eight grams.Silver ready also surged by Rs 1,140 to 45,040 per
kg, while weekly-based delivery gained by Rs 210 to Rs 43,632 per kg.Silver coins traded higher by Rs 2,000 to Rs 91,000 for buying and Rs
92,000 for selling of 100 coins.Get Breaking news, live coverage, and Latest News from India and around the world on
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