Gold prices firm up amid rising Iran-Israel tensions
Gold futures, maturing on June 5, 2024, stood at Rs 72,813 per 10 grams on the MCX, up Rs 536 or 0.74 per cent from the previous day’s close of Rs 72,277.
Gold prices got past the Rs.30,000-mark again by climbing Rs.375 to Rs.30,100 per 10 grams on Saturday, reflecting strong global uptrend and increased buying by local jewellers.
Silver also went past the Rs.43,000-mark by covering up Rs.400 at Rs.43,100 per kg, backed by increased offtake by industrial units and coin makers.
Traders said that apart from a better trend in global markets due to weakness in the dollar, increased buying by local jewellers at the domestic spot market triggered by the wedding season bolstered sentiment.
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Globally, gold rose 0.02 per cent to $1,234.30 an ounce and silver 1.27 per cent to $17.95 an ounce in New York on Friday.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity bounced back by Rs.375 each to Rs.30,100 and Rs.29,950 per 10 grams, respectively.
The precious metal had lost Rs.275 yesterday.
Sovereign, however, remained unchanged at Rs.24,500 per piece of 8 grams in limited deals.
Following gold, silver ready rebounded by Rs.400 to Rs.43,100 per kg and weekly-based delivery edged up by Rs.5 to Rs.42,165 per kg.
Silver coins spurted by Rs.1,000 to Rs.74,000 for buying and Rs.75,000 for selling of 100 pieces.
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