Gold retouches all-time high mark on jewellers’ buying

Gold retouches all-time high mark on jewellers’ buying

By / Business News / Tuesday, 13 August 2019 07:32

Gold prices on Monday retouched the all-time high mark of Rs 38,470 per 10 gram in the national capital after the precious metal advanced by Rs 50 on fresh buying from jewellers amid positive overseas trend, according to the All India Sarafa Association.

Globally, gold was trading higher at USD 1,503.30 an ounce in New York amid growing Sino-US trade tensions after US President Donald Trump on Friday reiterated that he was not ready for a deal with China, prompting investors to move towards safe-haven assets like gold.

On Thursday, gold had hit record high price of Rs 38,470 per 10 gram in the national capital.Silver, however, plunged Rs 1,150 to Rs 43,000 per kg on reduced offtake by industrial units and coin makers.According to analysts, the rise in local demand, along with positive global trend, mainly led to the upward movement in gold prices.

Sovereign gold, however, remained steady at Rs 28,600 per eight gram.On Saturday, the yellow metal had risen by Rs 90 to Rs 38,420 per 10 gram, while silver gained Rs 140 to Rs 44,150 per kg.

Meanwhile, silver ready plummeted Rs 1,150 to Rs 43,000 per kg on Monday, while weekly-based delivery held steady at Rs 43,324 per kg.

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Hum Hindustani

Hum Hindustani

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