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Gold price increases by ₹75 to ₹33,195 per 10 gram on local buying
Gold gained in Singapore and New York as investors looked for safe-haven bets amid intensifying trade worries.
Gold prices Monday rose by ₹75 to ₹33,195 per 10 gram in the national capital on fresh buying by jewellers amid firm global trends, according to the All India Sarafa Association.
Silver, however, declined by ₹80 to ₹37,500 per kg on reduced offtake by industrial units and coin makers.
The precious metal strengthened on the back of buying by local jewellers and positive global cues, traders said.
Gold gained in Singapore and New York as investors looked for safe-haven bets amid intensifying trade worries. Spot gold was trading higher at USD 1,314.50 an ounce in New York amid US announcing that it will impose a five per cent tariff on all Mexican imports which raised gold’s safe-haven appeal. Meanwhile silver was up at USD 14.73.
In Singapore, the yellow metal gained 0.5 per cent to SGD 1,802.51. Last week, US President Donald Trump said that he will impose a 5 per cent tariff on Mexican goods on June 10 to pressure the Mexican government to block central American migrants from crossing the border into the US.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity surged by ₹75 each to ₹33,195 per 10 gram and ₹33,025 per 10 gram, respectively.
Sovereign gold, however, held steady at ₹26,700 per eight gram.
On Saturday, gold had fallen by ₹50 to ₹33,120 per 10 gram.
Silver ready Monday dropped by ₹80 to ₹37,500 per kg, while weekly-based delivery rose by ₹87 to ₹36,464 per kg.
On the other hand, silver coins held flat at ₹80,000 for buying and ₹81,000 for selling of 100 pieces.
(The story has been published from a wire feed without any modifications to the text, only the headline has been changed.)
