INSUBCONTINENT EXCLUSIVE:
Gold prices today recovered some ground
but remained below the key Rs 32,000 per 10 grams level
Gold prices today rose by Rs 210 per 10 grams to Rs 31,990 per 10 grams at the bullion market in Delhi, news agency Press Trust of India
With that, gold prices in the national capital broke a two-day fall
Gold prices had declined by Rs 670 per 10 grams in the past two sessions
A pick-up in demand from jewellers to meet seasonal demand led to Friday's gain in gold prices, according to traders
Gains were however capped with international prices edging down to near their lowest levels this year.1
Domestic gold prices: Gold of 99.9 per cent and 99.5 per cent purity went up by Rs 210 each to Rs 31,990 and Rs 31,840 per 10 grams in Delhi
Silver prices: Silver ready rebounded by Rs 120 to Rs 40,870 per kg
Weekly-based delivery recaptured the Rs 40,000-mark by surging Rs 300 to Rs 40,170 per kg.3
International gold prices: Firmness in the dollar amid surging US Treasury yields led global gold prices lower
Spot gold was down about 0.1 per cent at $1,289.35 per ounce, after hitting its lowest since December 27 in the previous session at
$1,285.41, news agency Reuters reported
Rupee vs dollar: The US dollar has been rising against a basket of currencies, including the rupee
Trading in the range of 68.07-67.77 against the US dollar on Friday, the rupee is down around 6 per cent so far this year against the
Weakness in the rupee against the US currency makes import of gold more expensive
Gold is the second-biggest import item for India after oil
India is the world's second largest consumer of gold.
