INSUBCONTINENT EXCLUSIVE:
Sovereign gold, however, remained steady at Rs 24,600 per piece of eight grams on little doing.Gold prices jumped by Rs 200 to Rs 31,850 per
10 grams on increased buying by jewellers and retailers at the bullion market on Wednesday following beginning of auspicious week of
'Navratri', reported news agency Press Trust of India (PTI)
A weak trend overseas, however, capped the gains
Silver remained weak and traded Rs 50 lower at Rs 39,200 per kg due to slackened demand from industrial units and coin makers, it further
Bullion traders said increased buying by local jewellers as well as retailers, driven by beginning of festive demand in domestic spot
Globally, gold prices held steady on Wednesday as expectations of more US interest rate increases pressured demand, although the metal drew
some support from the dollar coming off a seven-week high, reported news agency Reuters
Spot gold was little changed at $1,189.05 an ounce in the early-day trade, moving largely within a slim $3 range during the session
US gold futures rose 0.1 per cent to $1,193.20 an ounce.2
In Delhi, gold of 99.9 and 99.5 per cent purity surged by Rs 200 each to Rs 31,850 and Rs 31,700 per 10 grams, respectively
It had lost Rs 250 in the previous two days
Sovereign gold, however, remained steady at Rs 24,600 per piece of eight grams on little doing.3
"Comex MCX gold has been steady as investors weigh President Donald Trump's sustained criticism of the Federal Reserve's pace of interest
rate increases," said Jigar Trivedi, Fundamental Research Analyst, Anand Rathi Commodities
On the other hand, silver ready fell by Rs 50 to trade at Rs 39,200 per kg, while weekly-based delivery declined Rs 85 to Rs 38,650 per
Silver coins continued to be traded at previous level of Rs 73,000 for buying and Rs 74,000 for selling of 100 pieces.(With agency inputs)
