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Gold Prices Climb By Rs 250 Amid Positive Global Cues: 5 Things To Know


Gold prices climbed by Rs 250 on Saturday to close at Rs 32,350 per 10 grams at the bullion market, reported Press Trust of India (PTI). A firm trend overseas, where gold spurted on safe-haven buying, boosted the yellow metal’s prices, traders were quoted as saying in the PTI report. Silver rates gained Rs 800 to close at Rs 38,500 per kg on higher demand from industrial units and coin makers. On Friday, gold prices slipped by Rs 20 to close at Rs. 32,100 per 10 gram while gained Rs 75 to close at Rs 37,700 per kg.

(Also read: How Good Is Gold This Wedding Season? Key Points To Plan Your Investment)

Here are 5 things to know about gold prices, silver rates on Saturday:

1. In the national capital, gold of 99.9 per cent and 99.5 per cent purities rose by Rs 250 each to close at Rs 32,350 and Rs 32,200 per 10 grams, respectively.

2. Sovereign gold moved up by Rs 100 to Rs 25,000 per piece of 8 grams.

3. Globally, gold, which is considered a safe investment during times of financial, economic and geopolitical uncertainty, surged to $1,247.46 an ounce in New York and silver also went up to $14.62 an ounce amid a strengthening dollar. Gold has recovered about 7 per cent from 19-month lows hit in mid-August, according to news agency Reuters.

4. Silver ready rose by Rs 800 to Rs 38,500 per kg, while weekly-based delivery gained Rs 1094 to Rs 38,300 per kg on Saturday.

5. Silver coins rose to Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces. 

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Source: NDTV Profit