Business Standard

Gold surges on firm global cues, silver recovers

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Press Trust of India Mumbai

Gold prices rose by Rs 105 to Rs 30,250 per ten gram at the bullion market here today, extending rally for the second day in a row.

Besides, persistent buying by local jewellers to meet the increased demand helped the upswing.

Silver, however, recovered by Rs 50 per kg on mild offtake from industrial units.

Standard gold (99.5 per cent purity) climbed by Rs 105 to finish at Rs 30,250 per 10 gram from Thursday's closing level of Rs 30,145.

Pure gold (99.9 per cent purity) also moved up by a similar margin to end at Rs 30,400 per 10 gram against Rs 30,295, earlier.

 

Silver (.999 fineness) gained by Rs 50 to conclude at Rs 37,135 per kg compared to Rs 37,085.

Globally, Gold prices rose due to a lower dollar and jitters about an escalation in the US-China trade dispute after fresh threats by President Donald Trump, although bullion is still heading for its fifth straight monthly decline.

Spot gold was up 0.6 per cent at USD 1,206.19 an ounce at early trade.

Silver was up 0.9 per cent at USD 14.67 an ounce.

Disclaimer: No Business Standard Journalist was involved in creation of this content

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First Published: Aug 31 2018 | 6:50 PM IST

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