Gold gets costlier by Rs 500 in 10 days, silver coins price rises Rs 1,000 as wedding buying continues

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Published: January 15, 2018 5:02:21 PM

Gold became costlier by Rs 500 per 10 grams in the last 10 days while silver coins price saw a rise of Rs 1,000 at the bullion market of national capital Delhi as wedding season buying grows.

Today only, gold witnessed a price rise of Rs 200 per 10 grams while silver prices went up by Rs 300 per kg. (Image: Reuters)

Gold became costlier by Rs 500 per 10 grams in the last 10 days while silver coins price saw a rise of Rs 1,000 at the bullion market of national capital Delhi as wedding season buying grows. Gold prices have been elevated by Rs 500 to a three-month high of Rs 30,950 per 10 grams as the yellow metal appears on the top of the list when it comes to marriages in India. On the other hand, silver prices have seen a marginal uptick in the last 10 days. The prices of silver rose by Rs 350 to Rs 40,200 per kg. Gold prices have been broadly rising since the last 28 days. Gold prices have risen by Rs 1,550 in the last 28 days from a price level of Rs 29,400 per 10 grams. However, from the beginning of December until 12 December 2017, gold prices were on a sinking trend following a low demand from local jewellers all across.

Today only, gold witnessed a price rise of Rs 200 per 10 grams while silver prices went up by Rs 300 per kg. The surge in the prices of precious metals is primarily because of the ongoing wedding season buying by local jewellers and retailers. Experts believe that gold prices are also rising following a surge in prices of yellow metal in the international markets and due to the weakening of US dollar. The price of silver coins got appreciated by Rs 1,000 in the last 10 days. Silver got costlier by Rs 1,000 to Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces in the last 10-day period.

Globally, gold rose 0.42% to USD 1,343 an ounce and silver by 0.9% to USD 17.36 an ounce in Singapore on Monday. In the national capital Delhi, gold of 99.9% and 99.5% purity rallied by Rs 200 each to Rs 30,950 and Rs 30,800 per 10 gram today, respectively. The precious metal gold had gained Rs 275 in the previous three days. Sovereign too gained Rs 50 to trade at Rs 24,750 per piece of eight gram. Silver ready prices also went up by Rs 300 to Rs 40,200 per kg and weekly-based delivery by Rs 460 to Rs 39,580 per kg on Monday.

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