Gold Prices Up By Rs 80

MARKET

Gold prices gained Rs 80 to Rs 33,250 per 10 gram at the bullion market today due to fresh buying by local jewellers, even as the metal lost steam overseas, according to the All India Sarafa Association.

Silver, however, fell by Rs 370 to Rs 39,530 per kg due to low offtake from industrial units and coin makers.

Traders attributed the rise in gold prices to pick-up in demand from local jewellers in the domestic market, but said a weak trend overseas capped the gains.

Globally, gold shed 0.09 per cent to USD 1,297.50 an ounce, and silver 0.20 per cent to USD 15.38 an ounce in New York as a weak US employment report sent the greenback lower and clouded the outlook for the global economy.

In the national capital, gold of 99.9 per cent and 99.5 per cent purities recovered by Rs 80 each to Rs 33,250 and Rs 33,080 per 10 gram, respectively. It had lost Rs 100 on Saturday.

Sovereign, however, remained flat at Rs 26,400 per piece of 8 gram.

Silver ready fell by Rs 370 to Rs 39,530 per kg and weekly-based delivery by Rs 13 to Rs 38,715 per kg.

Silver coins, however, continued to be traded at previous level of Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.