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Friday 26 April 2019
MTECHTIPS;- Gold rises Rs 150 on jewelers' buying, positive global trend
MTECHTIPS;-
Gold rises Rs 150 on jewelers' buying, positive global trend
MTECHTIPS-Gold
Extending its upward trend for second day, the price of gold on April 26 surged by Rs 150 to Rs 33,020 per 10 gram in the national capital on a pick-up in buying from jewellers amid firm trend overseas, according to the All India Sarafa Association. Silver also rose Rs 230 to Rs 38,750 per kg on increased offtake by industrial units and coin makers. Traders said positive trend overseas and support from local jewellers led to a rise in precious metal. They also said that with the rupee hovering around Rs 70 against a dollar, the gold is in demand as a safe haven to mitigate the risk. The rupee appreciated 16 paise to 70.09 against the US dollar in opening trade on April 26, driven by positive opening in domestic equities and weakening greenback in foreign markets. Globally, spot gold was trading higher at USD 1,282.70 an ounce, while silver was up at USD 15.10 an ounce in New York.
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