Gold price hits year's high on festive buying

NEW DELHI: Gold costs spurted by way of Rs 150 to trade at this year's high of Rs 32,500 in keeping with 10 grams on the bullion market Wednesday on continual buying by way of local jewellers amid a company trend out of the country.

Silver, alternatively, shed Rs 20 to Rs 39,730 in keeping with kg owing to reduced offtake by way of industrial units.

Traders mentioned higher buying by way of local jewellers to fulfill festive and marriage ceremony season call for and a company trend out of the country mainly lifted gold costs to this year's highest stage.

Gold costs in out of the country markets rose zero.11 in keeping with cent to $1,232.20 an oz. in Singpore. It touched $1,239.68 an oz. Tuesday, highest since July 17 as geopolitical and financial uncertainty raised call for for the precious metals as a safe-haven.

Silver additionally moved up by way of zero.17 in keeping with cent to $14.83 an oz..

In the national capital, gold of 99.9 in keeping with cent and 99.five in keeping with cent purity complex by way of Rs 150 each and every to Rs 32,500 and Rs 32,350 in keeping with 10 grams, respectively, its highest stage this year. The yellow metal had gained Rs 130 on Tuesday.


The precious metal had traded at Rs 32,450 in keeping with 10 gram on May 15.


Sovereign too traded higher by way of Rs 100 at Rs 24,800 in keeping with piece of eight grams.


On the opposite hand, silver able eased by way of Rs 20 to Rs 39,730 in keeping with kg and weekly-based delivery by way of Rs 50 to Rs 39,010 in keeping with kg.


Silver cash, alternatively, spurted by way of Rs 1,00 to Rs 76,00zero for purchasing and Rs 77,00zero for selling of 100 pieces.
Gold price hits year's high on festive buying Gold price hits year's high on festive buying Reviewed by kailash soni on October 25, 2018 Rating: 5
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