Gold prices hit over 6-year high on festive buzz, global cues

NEW DELHI: Gold costs rose via another Rs 125 to trade at over six-year high of Rs 32,625 according to 10 gram Thursday, buoyed via pick-up in festive and wedding ceremony season demand via local jewellers amid company global trends and weakening rupee. Silver, then again, remained vulnerable and fell via Rs 130 to Rs 39,600 according to kg due to slackened demand from commercial gadgets.

Bullion traders mentioned sentiments also got a boost on firming trend in in another country where gold traded at over three-month high as the greenback eased and equities slumped. Besides, weakness in the local currency also added to investor sentiments.

Globally, gold was trading at $1,234.20 an ounce in Singapore Thursday.

Besides, a pick-up in purchasing via local jewellers to satisfy seasonal demand at domestic spot markets and diversion of funds from falling fairness markets also supported the uptrend, they mentioned.


In the national capital, gold of 99.99 and 99.5 according to cent purity rallied via Rs 125 each to Rs 32,625 and Rs 32,475 according to 10 gram, respectively. This is the highest degree since November 29, 2012 when the valuable metal had closed at Rs 32,940 according to ten gram.


This is the 3rd straight consultation of gain for the yellow metal which has received Rs 405 since October 23.


Sovereign gold, then again, traded steady at Rs 24,800 according to piece of eight gram.


On the opposite hand, silver able extended its weakness via costs falling via another Rs 130 to Rs 39,600 according to kg. Silver coins, then again, remained unaltered at Rs 76,000 for getting and Rs 77,000 for selling of 100 items.
Gold prices hit over 6-year high on festive buzz, global cues Gold prices hit over 6-year high on festive buzz, global cues Reviewed by kailash soni on October 25, 2018 Rating: 5
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