INSUBCONTINENT EXCLUSIVE:
Local jewellers lifted gold prices on Friday, despite weak global cues
Gold prices rose to Rs 31,690 per ten grams by Rs 110 for the third straight day
Silver prices, however, could not match up to gold rates as they fell by Rs 100 to Rs 40,500 per kg
In international trade, gold prices were negative but narrowed their losses as US tariffs on Chinese imports weighed on the dollar, stoking
fears of a full-blown trade war between the two leading economies.Here are five things you should know about gold, silver prices today:1)
Increased buying by local jewellers at domestic spot market mainly kept gold prices higher, but a weak trend overseas capped further rise,
traders said, according to a report by Press Trust of India.2) In New Delhi, gold of 99.9 per cent and 99.5 per cent purity surged by Rs 110
each to Rs 31,690 and Rs 31,540 per ten grams, respectively
It had gained Rs 220 in the previous two sessions
Sovereign, however, remained flat at Rs 24,800 per piece of eight grams.3) As far as silver prices are concerned, reduced offtake by
industrial units and coin makers pushed silver rates down
Silver ready fell by Rs 100 to Rs 40,500 per kg, while weekly-based delivery climbed by Rs 680 to Rs 39,880 per kg on speculative buying.4)
Silver coins, however, continued to trade at the previous level of Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.5) Spot gold
was 0.1 per cent lower at $1,256.54 an ounce by 12:30 pm (0702 GMT), having dropped to $1,252.15 earlier in the session, according to a
report by news agency Reuters
