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.
Rising for the second straight day, gold prices firmed up by Rs.200 to Rs.28,550 per 10 grams on Wednesday, driven by a firm global trend and increased buying by local jewellers.
Silver also regained the Rs 40,000-mark by surging Rs.650 to Rs.40,250 per kg, backed by increased off-take by industrial units and coin makers.
Traders said that apart from a firm trend overseas, persistent buying by local jewellers at the domestic spot market supported the upside.
Advertisement
Globally, gold rose 0.38 per cent to $1,162.70 an ounce and silver by 0.83 per cent to $16.41 an ounce in Singapore.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity shot up by Rs.200 each to Rs.28,550 and Rs.28,400 per 10 grams, respectively. The precious metal had gained Rs 50 on Tuesday.
Sovereign, however, remained flat at Rs.24,000 per piece of eight grams.
In a similar fashion, silver ready strengthened by Rs.650 to Rs.40,250 per kg and weekly-based delivery by Rs.680 to Rs.40,220 per kg.
Silver coins too spurted by Rs.1,000 to Rs.71,000 for buying and Rs.72,000 for selling of 100 pieces.
Advertisement
