INSUBCONTINENT EXCLUSIVE:
Sovereign gold, however, held unchanged at Rs 24,900 per piece of 8 grams.Gold prices jumped by Rs 130 to Rs 32,780 per 10 grams at the
bullion market on Thursday on persistent buying by local jewellers to meet festive season demand amid a firm trend overseas, reported news
agency Press Trust of India
Silver, however, remained subdued and lost another Rs 90 at Rs 39,110 per kg, due to reduced offtake by industrial units
Traders said, continued buying by local jewellers ahead of auspicious "Dhanteras" and "Diwali" festival and positive leads from the global
market mainly kept the precious metal prices elevated
However, country's gold demand in 2018 is expected to fall from the previous year as a rally in local prices to five-year highs is likely to
dent purchases during key festivals in the December quarter, the World Gold Council (WGC) said on Thursday, reported Reuters
Globally, gold recovered on Thursday from a three-week low hit in the previous session as the recent drop in metal prices and an easing of
the US dollar from multi-month highs stoked buying, reported news agency Reuters
Spot gold was up 0.8 per cent at $1,222.41 per ounce, in the intraday trade, after falling for three sessions in a row
Gold touched its lowest since October 11 at $1,211.52 per ounce on Wednesday.2
"Investors are now looking ahead to the US jobs report on Friday for clues on the strength of the economy," said Jigar Trivedi, Fundamental
Research Analyst, Anand Rathi Commodities
In the national capital, gold of 99.9 per cent and 99.5 per cent purity advanced by Rs 130 each to Rs 32,780 and Rs 32,630 per 10 grams,
The yellow metal had gained Rs 100 in the previous two days
Sovereign gold, however, held unchanged at Rs 24,900 per piece of 8 grams.4
On the other hand, silver ready continued to show weakness and shed another Rs 90 at Rs 39,110 per kg and silver weekly-based delivery fell
