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 dipped below the Rs.30,000 mark on Monday, plunging Rs.350 to Rs.29,750 per 10 grams amid a weak trend in overseas market and fall in demand from local jewellers.
Silver also slipped below the Rs.43,000-mark by falling Rs.300 to Rs.42,800 per kg on reduced offtake by industrial units and coin makers.
Traders said apart from a weak trend overseas, fall in demand from local jewellers and retailers following end of the marriage season mainly pulled down gold prices.
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Globally, gold fell 0.19 per cent to $1,231.90 an ounce and silver by 0.92 per cent to $17.78 an ounce in Singapore.
In the national capital, gold of 99.9 and 99.5 per cent purity tumbled by Rs.350 each to Rs.29,750 and Rs.29,600 per ten grams, respectively. It had gained Rs.375 in Saturday's trade.
Sovereign, however, remained unaltered at Rs.24,500 per piece of eight grams.
Silver ready dropped by Rs.300 to Rs.42,800 per kg, while weekly-based delivery surged by Rs.535 to Rs.42,700 per kg on speculative buying.
Silver coins plummeted by Rs.1,000 at Rs.73,000 for buying and Rs.74,000 for selling of 100 pieces.
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