Gold Price Jumps By Rs 250 At 30,900 In Bullion Market

New Delhi: Gold prices at the bullion market on Saturday rose by Rs. 250 to Rs. 30,900 per 10 grams due to brisk buying by local jewellers and firm trend overseas. Silver too spurted by Rs. 400 to Rs. 38,250 per kg due to increased offtake by industrial units and coin makers.

Market analysts have stated that gold prices rose in global markets as the US Dollar came under pressure, with investors buying the yellow metal as a safe investment option.

Globally, gold price increased by 1.75 per cent to $1,205.30 an ounce whereas silver gained 2.14 per cent to $14.77 an ounce in New York in yesterday’s trade. Moreover, excessive buying of gold by local jewellers and retailers ahead of Raksha Bandhan also added to the upwards surge of the precious metal.

In the national capital Delhi, gold of 99.9 per cent and 99.5 per cent purity spurted by Rs. 250 each to Rs. 30,900 and Rs. 30,750 per 10 gram respectively. Silver also climbed by Rs. 400 to Rs. 38,250 per kg. However, Silver coins remained steady at Rs. 72,000 for buying and Rs. 73,000 for selling of 100 pieces.

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