Gold spikes on firm global cues, silver surges at 41,000

A depreciated rupee versus the dollar made imports of the Gold costlier, thus fuelling the uptrend, as per experts' point of view.
 
 
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INDORE, India - April 19, 2018 - PRLog -- Rising for the third consecutive day, followed by Akshaya Tritiya, gold prices again surged by another Rs 250 to Rs 32,630 per 10 gram at the bullion market on Thursday mainly together with a firm trend overseas amid persistent buying by local jewellers.

Silver followed suit and reclaimed the Rs 41,000-level by rising Rs 1,030 to Rs 41,480 per kg due to increased offtake by industrial units and coin makers.

In New Delhi, gold of 99.9 percent and 99.5 percent purity rose by Rs 250 each to Rs 32,630 and Rs 32,480 per 10 gram, respectively. The Gold metal had gained Rs 380 in the preceding two sessions, while price of Sovereign, held steady at Rs 24,900 per piece of 8 grams.

Silver ready increased by Rs 1,030 to Rs 41,480 per kg and weekly-based delivery by Rs 960 to Rs 40,450 per kg. Silver coins also flared up by Rs 1,000 to Rs 76,000 for buying and Rs 77,000 for selling of 100 pieces.

Globally, gold price rose 0.23% to USD 1,352.30 an ounce and Silver by 0.35% to USD 17.23 an ounce in Singapore.

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Tags:Gold, Investment, Stock
Industry:Business
Location:Indore - Madhya Pradesh - India
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