Gold Silver Reports (GSR) – Gold prices edged higher by ₹ 50 to ₹ 31,650 per 10 gram on Monday on increased demand by local jewellers despite a weak trend overseas, reported PTI. Global gold prices edged lower, pressured by a strong US dollar amid prospects of higher interest rates, while global trade worries kept the precious metal supported above a six-month low hit last week.
In Delhi, gold rate of 99.9 and 99.5% purity advanced by ₹ 50 each to ₹ 31,650 and ₹ 31,500 per 10 gram, respectively. The metal had gained ₹ 30 in the previous two sessions.
Globally, spot gold rate was down 0.3% at $1,264.70 an ounce. US gold futures for August delivery were 0.3% lower at $1,266.60 per ounce.
Silver prices, however, fell by ₹100 to ₹40,900 per kg on reduced offtake by industrial units and coin makers, added the report.
Global shares fell on escalating trade tensions, while the dollar index against a basket of six major currencies was 0.1% higher.
The Indian rupee traded lower against the US dollar, tracking the losses in Asian currencies amid worsening US-China trade tensions. – Neal Bhai Reports (NBR)
