Gold rules flat at Rs 39,670, silver gains Rs 190

After rising for five consecutive days, gold prices on Tuesday held steady at Rs 39,670 per 10 gram in the national capital, according to the All India Sarafa Association.

Gold had touched its all-time high mark of Rs 39,670 on Monday.

Silver gained Rs 190 to Rs 46,740 per kg on increased offtake by industrial units and coin makers.

Globally, gold was trading higher at USD 1,531.40 an ounce in New York, while silver was up at USD 17.78 an ounce.

Globally, gold prices remained firm despite recovery in global equity indices amid easing worries about trade war, HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

“In a recent development, the US and China have agreed to restart the trade talks,” Patel said, adding that investors are awaiting more clarity on the talks.

On the domestic front, “the spot rupee was trading 30 paise stronger against dollar which has limited the gains in gold prices,” he said.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity held flat at Rs 39,670 and Rs 39,500 per 10 gram, respectively.

Sovereign gold held steady at Rs 29,500 per eight gram.

Silver ready advanced Rs 190 to Rs 46,740 per kg, while weekly-based delivery declined Rs 164 to Rs 45,127 per kg.

Silver coins were in good demand and traded higher by Rs 2,000 at Rs 96,000 for buying and Rs 97,000 for selling of 100 coins.