Today, gold rose by Rs 25 to Rs 31,100 per 10 grams by demanding positive global signs and marriage season. On the other hand silver prices remained steady at Rs 39,900 per kg from the demand for industrial units and coin makers. The bullion traders said that demand for precious metals has increased due to reaching new low levels of US dollar in three years. When the dollar falls, demand for gold increases as a safe investment option.
Gold prices:
Globally, gold in Singapore rose 0.16 percent to reach $ 1,343 an ounce. Silver rose 0.21 percent to $ 17.07 an ounce. Besides, the demand for the marriage season of local jewelery makers also led to the rise in gold prices. In the national capital, gold rose 99.9 percent and 99.5 percent purity rose by 25-25 rupees to Rs 31,100 and Rs 30,950 per ten gram respectively. In the protest against the sealing campaign, the Sarafa and other markets were closed on Tuesday.
Stabilized silver price
Sovereign, however, declined by Rs 100 to Rs 24,800 per piece of eight gram. On the other hand, silver spot remained steady at Rs 39,900 per kg, while weekly delivery was down by Rs 75 to Rs 38,940 per kilogram. However, silver coins remained steady at Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces.
