Gold prices on the rise – important takeaways

The gold market closed at Rs 31,650 per ten gram. With Rs 50 gain, the bullion market was strong even after the overseas gold trend was weak. Silver, however, saw a fall of Rs 100 to Rs 40,900 per Kg. The constant demand among the local buyers to meet the consumer’s needs brought a rise, but a comparatively weaker trend internationally, halted the rise.

Following are the essential takeaways for the gold and silver market today

– The price of gold fell by 0.20 per cent to $1,266.30. Silver also saw a fall of 0.55 per cent to $16.33 per ounce. The trend was witnessed due to the depreciation of rupee against dollar.

– The national capital saw gold of 99.9 per cent advance by Rs 50 to Rs 31,650 and of 99.5 per cent to Rs 31,500 per ten gram, respectively. The last two days saw a rise of Rs 30 in the last two days.

– The price of sovereign remained constant at Rs 24,800 per eight gram piece.

– The price of silver fell by Rs 100 to Rs 40,900 per kg. The weekly delivery fell Rs 115 to Rs 36,680 per kg.