Gold increases on positive global cues, jewelers trade

May 03 2016 05:03 PM
Gold increases on positive global cues, jewelers trade

May 3rd,2016: New Delhi, Gold prices improved by Rs 50 to Rs 30,250 per 10 grams at the bullion market today, following a firm trend foreign during fresh purchasing by jewellers.Still, silver continued under pressure and shed extra Rs 100 to Rs 41,600 per kg.

Dealers said, “ a firm trend globally where gold rose on speculation that the US central bank will be slow to tighten policy further, bolstered the metal's appeal, which also hit dollar.”
Overseas, gold added 0.2 % to US dollar 1,294.68 an ounce in Singapore up from yesterday's USD 1,291.55 after it soared to USD 1,303.82 an ounce.

“Choice up in purchasing by jewellers to meet retailers' call for the on-going wedding season, also supported the upside”, said traders.

In the national capital, gold of 99.9% and 99.5 % purity mended by Rs 50 each to Rs 30,250 and Rs 30,100 per ten grams, individually. It had shed Rs 100 in the previous session.

Sovereign,although, held steady at Rs 23,300 per part of eight grams.

On different side, silver ready clear-cut by Rs 100 to Rs 41,600 per kg and weekly-based delivery by Rs 900 to Rs 41,300 per kg.

Silver coins, meanwhile, held unaffected at Rs 70,000 for purchasing and Rs 71,000 for selling of 100 pieces.

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