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Gold price-rise increases geo-political uncertainity, hits over 1-mth high

Gold Rose For The Second Straight Day, With Prices Surging Rs 410 To An Over One-month High Of Rs 29,760 Per 10 Grams On Wednesday And Made The Most Of Rising Geo-political Uncertainty.

PTI | Updated on: 12 Apr 2017, 04:10:45 PM
Gold and silver price rise

New Delhi:

Gold rose for the second straight day, with prices surging Rs 410 to an over one-month high of Rs 29,760 per 10 grams on Wednesday and made the most of rising geo-political uncertainty. 

Silver shot past the Rs 42,000-mark by surging Rs 925 to Rs 42,750 per kg, driven by higher offtake.

Traders said the bullion derived its strength from a firm trend overseas as soaring geo-political tensions boosted the metal's appeal as a safe haven. 

Globally, gold climbed 0.05 per cent to trade at a five-month high of USD 1,274.60 an ounce in  

Besides, persistent buying by local jewellers to cater to wedding season demand supported the upside, they said. 

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In the national capital, gold of 99.9 per cent and 99.5 per cent purity went up by Rs 410 each to Rs 29,760 and Rs 29,610 per 10 grams, respectively, a level last seen on March 6 when it had ended at Rs 29,750. The precious metal had gained Rs 60 on Tuesday. 

Sovereign also traded higher by Rs 100 at Rs 24,500 per piece of eight grams. 

Silver ready and weekly-based delivery climbed by Rs 925 each to Rs 42,750 and Rs 42,320 per kg, respectively. 

Silver coins too moved up by Rs 1,000 to Rs 72,000 for buying and Rs 73,000 for selling of 100 pieces.

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First Published : 12 Apr 2017, 03:36:00 PM