Gold sparkles on Diwali demand, tops Rs 31,000 - Hindustan Times
close_game
close_game

Gold sparkles on Diwali demand, tops Rs 31,000

Press Trust of India, New Delhi | ByPress Trust of India
Oct 18, 2017 03:15 PM IST

Silver held steady at Rs 41,000 per kg in limited deals from industrial units and coin makers.

Gold prices spurted by Rs 290 to 3-week high of Rs 31,000 per 10 grams on the eve of Diwali at the bullion market on Wednesday on increased buying by local jewellers to meet festive demand.

Bullion traders said increased buying by local jewellers, driven by Diwali festival demand in domestic spot markets, led to rise in gold prices.(Mint file)
Bullion traders said increased buying by local jewellers, driven by Diwali festival demand in domestic spot markets, led to rise in gold prices.(Mint file)

A weak trend overseas, however, capped the gains.

Hindustan Times - your fastest source for breaking news! Read now.

Silver held steady at Rs 41,000 per kg in limited deals from industrial units and coin makers.

Bullion traders said increased buying by local jewellers, driven by Diwali festival demand in domestic spot markets, mainly led to rise in gold prices.

Globally, gold fell by 0.12% to $1,283.20 an ounce and silver by 0.06% to $16.98 an ounce in Singapore.

In the national capital, gold of 99.9% and 99.5% purity surged by Rs 290 each to Rs 31,000 and Rs 30,850 per 10 grams respectively, a level last seen on September 27. It had lost Rs 140 yesterday.

Sovereign, however, remained steady at Rs 24,700 per piece of eight grams on little doing.

On the other hand, silver ready held steady at Rs 41,000 per kg, while weekly-based delivery fell by Rs 130 to Rs 39,860 per kg.

Silver coins continued to be traded at previous level of Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces.

Unlock a world of Benefits with HT! From insightful newsletters to real-time news alerts and a personalized news feed – it's all here, just a click away!- Login Now!
Stay informed on Business News along with Gold Rates Today, India News and other related updates on Hindustan Times Website and APPs
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Tuesday, March 19, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On