INSUBCONTINENT EXCLUSIVE:
Sovereign gold, however, remained flat at Rs 24,500 per piece of eight gram.Gold shot up by Rs 120 to Rs 31,200 per 10 gram at the bullion
market on Thursday due to increased buying by local jewellers amid a firm global trend, reported news agency Press Trust of India
However, silver held steady at Rs 38,300 per kg on scattered enquiries from industrial units and coin makers
Traders said gold rose on increased buying by local jewellers to meet the ongoing festive season demand and a firm global trend
Moreover, a depreciating rupee which plunged to a fresh record low of 70.82 against the dollar (intra-day), making imports costlier,
Globally, gold prices inched lower on Thursday as the dollar firmed amid expectations of higher US interest rates, but the precious metal
continued to hold above a key support level of $1,200, reported Reuters
Spot gold was down 0.4 per cent at $1,202.02 an ounce in the early-day trade, while US gold futures were down 0.3 per cent at $1,207.80 an
In Delhi, gold of 99.9 per cent and 99.5 per cent purity rebounded by Rs 120 each to Rs 31,200 and Rs 31,050 per 10 gram, respectively
It had shed Rs 70 in yesterday's trade
Sovereign gold, however, remained flat at Rs 24,500 per piece of eight gram.3
"The comex gold is heading for the longest monthly losing run since 2013
The yellow metal has fallen for five straight months as US equities achieve record highs and Fed sticks to rate hike path
Even after US posted healthy gross domestic product, the market shrugged off the positive news flow," says Jigar Trivedi - fundamental
Silver coins however continued to trade at previous level of Rs 73,000 for buying and Rs 74,000 for selling of 100 pieces.(With agency
