Gold jumps ₹ 225 on wedding season demand, rally in global prices
Business | November 13, 2019 15:15 ISTGold in the national capital rose Rs 225 to Rs 38,715 per 10 gram on Wednesday helped by wedding season demand and rally in international prices
Gold in the national capital rose Rs 225 to Rs 38,715 per 10 gram on Wednesday helped by wedding season demand and rally in international prices
Gold on Tuesday fell by Rs 130 to Rs 38,550 per 10 gram in the national capital on a weak global trend.
Gold prices on Monday rallied by Rs 118 to Rs 38,678 per 10 gram in the national capital helped by a recovery in global prices and sharp rupee depreciation against the dollar.
Tracking the rise in gold, silver prices also moved up by Rs 230 to Rs 46,510 per kg from Rs 46,280 per kg on Wednesday.
On Tuesday, gold had closed at Rs 38,755 per 10 gram.
Are you planning to buy gold this Dhanteras? Then this news is only for you. On the occasion of Diwali, Dhanteras festival, most Hindu families, businessmen prefer purchasing gold. So, ahead of festive season, several banks offer rewards like discounts or cashback on gold purchases. Here are some of the top bank offers on gold purchases in 2019.
The precious metal contracts for December delivery traded up by Rs 163, or 0.42 per cent, to Rs 38,700 per 10 gram in a business turnover of 435 lots.
Amid Pakistan Prime Minister Imran Khan's war threat against India after the abrogation of Article 370 in Jammu and Kashmir, the Gold price has reached a record high of Rs 90,000 per tola (just above 10 gram) in Pakistan on Friday. Gold rates in several cities of Pakistan, including Karachi, Lahore, Rawalpindi, Peshawar reached record high, according to UrduPoint.
Typically, the demand for gold reflects the expectations about the future, the prices of the precious metal tends to rise amid uncertain economic situations or political upheaval.
If you are also planning to invest in gold then here is the best way to do it right away, despite the constant rise in the gold price. This can be done by purchasing paper gold or sovereign gold that has been made available by the Reserve Bank of India (RBI).
Modi Government has launched Sovereign Gold Bond (SGB) under which you will get gold at a cheaper rate as compared to the market price. The price of one gram gold has been kept at Rs 3,443. Notably under this instead of gold, one will get bond of the gold purchased issued by the RBI bank.
Gold prices on Thursday zoomed Rs 930 to Rs 35,800 per 10 gram in the national capital tracking positive overseas trend after US Federal Reserve Chairman Jerome Powell hinted at a rate cut soon that prompted investors to move towards safe-haven assets like the yellow metal.
The gold industry on Friday unanimously slammed the steep hike in import duty of gold and precious metals from 10 per cent to 12.5 per cent, saying it will backfire and hit the Indian retail market.
Finance Minister Nirmala Sitharaman on Friday in her maiden budget speech has an announcement that might not be music for the middle-class consumers who buy gold for various reasons. The government has increased customs duty on gold and other precious metals to 12.5 per cent from the existing 10 per cent, said Finance Minister in the Lok Sabha.
Gold prices plunged Rs 300 to Rs 34,170 per 10 gram in the national capital on Wednesday due to tepid demand from local jewellers and weak trend overseas, according to the All India Sarafa Association.
Continuing its rising streak for the fourth straight day, gold prices Friday surged Rs 280 to Rs 34,300 per 10 gram in the bullion market here on firm global trend and increased buying from jewellers, according to All India Sarafa Association.
Market analysts said the rise in gold prices at futures trade was mostly due to widening of positions by participants in domestic markets.
Gold prices rose by Rs 300 to Rs 33,870 per 10 gram in the bullion market here Friday on fresh buying by jewellers and a firm trend overseas, according to the All India Sarafa Association.
Marketmen attributed the slide in gold prices to easing demand from local jewellers and retailers at existing levels in domestic spot market.
After 4 days of losses, Gold prices made a turnaround jumping Rs 150 to Rs 30,750 per 10 grams. Silver too jumped up by Rs 400 to Rs 40,900 per kg.
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