INSUBCONTINENT EXCLUSIVE:
Gold prices today regained the Rs 32,000
per 10 grams level in Delhi
Gold prices rose by Rs 120 per 10 grams to Rs 32,000 per 10 grams in the national capital, news agency Press Trust of India reported
Increased buying by local jewellers along with slight recovery in prices in the international market supported domestic gold prices,
Strengthening of the dollar against a basket of currencies - including rupee - also supported domestic gold prices
A stronger dollar makes dollar-priced gold dearer for non-US investors.1
Domestic gold prices: Gold of 99.9 per cent and 99.5 per cent purity in Delhi rose by Rs 120 each to Rs 32,000 per 10 grams and Rs 31,850
per 10 grams respectively, according to Press Trust of India
Domestic silver prices: Silver ready strengthened by Rs 300 to Rs 41,400 per kg
Weekly-based delivery went up by Rs 175 to Rs 40,480 per kg, according to Press Trust of India.3
Global gold prices: Spot gold was up 0.1 per cent at $1,292.56 per ounce, as of 8:59 am, news agency Reuters reported
Rupee vs dollar: The rupee touched 68.42 against the US dollar, a level last seen in December 2016
Dollar strengthened against a basket of currencies on uncertainty over the outcome of US-China trade talks
Investors also waited for minutes from the Federal Reserve's meeting for clues on the outlook for US interest rates.5
Gold is highly sensitive to rising US rates, as these increase the opportunity cost of holding non-yielding bullion, while boosting the
dollar in which the metal is priced.
