Tuesday, Sep 22, 2020 | Last Update : 05:42 PM IST

182nd Day Of Lockdown

Maharashtra122438091634833015 Andhra Pradesh6317495518215410 Tamil Nadu5473374919718871 Karnataka5268764233778145 Uttar Pradesh3588932895945135 Delhi2492592133045014 West Bengal2283021989834421 Odisha184122149379763 Telangana1726081419301042 Bihar169856155824870 Assam159320129130578 Kerala13863398720554 Gujarat1247671051913337 Rajasthan116881972841352 Haryana113075908841177 Madhya Pradesh108167836182007 Punjab99930754092860 Chhatisgarh8618347653680 Jharkhand7267358543626 Jammu and Kashmir65026421151024 Uttarakhand4177729000501 Goa2875322726360 Puducherry2319118065467 Tripura2227215441245 Himachal Pradesh124387836125 Chandigarh102987411123 Manipur9010683859 Arunachal Pradesh7385540813 Nagaland5544445110 Meghalaya4733252838 Sikkim2447190529 Mizoram158510120
  Business   Market  23 Aug 2019  Gold rises for fourth consecutive day, touches fresh high of Rs 38,995

Gold rises for fourth consecutive day, touches fresh high of Rs 38,995

PTI
Published : Aug 23, 2019, 4:09 pm IST
Updated : Aug 23, 2019, 4:09 pm IST

Gold prices have been hitting a fresh high every day since Tuesday.

Globally, gold traded weak with international spot gold prices falling below USD 1,500 on Friday.
 Globally, gold traded weak with international spot gold prices falling below USD 1,500 on Friday.

New Delhi: Continuing its record-setting trend for the fourth consecutive day, gold prices rose Rs 25 on Friday to reach a record high of Rs 38,995 per 10 gram in the national capital amid a weaker rupee, according to the All India Sarafa Association.

Gold prices have been hitting a fresh high every day since Tuesday. Meanwhile, silver held steady at the previous level of Rs 45,100 per kg. Even as the precious metal lost steam overseas, persistent buying from jewellers mainly led to the rise in gold prices, traders said.

 

Besides, a weaker rupee also led to the increase in price of the precious metal. The rupee declined below the 72 mark against the US currency in the opening session on Friday. It fell by 22 paise to trade at a nine-month low of 72.03 against the US dollar in early session.

In New York, spot gold was trading lower at USD 1,496.30 an ounce, while silver was almost flat at USD 17.11 an ounce.

"Globally, gold traded weak with international spot gold prices falling below USD 1,500 on Friday on positive US equity futures and stronger dollar index," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

Traders are awaiting the key Jackson Hole meeting for cues on gold prices. Fed Chair Jerome Powell's speech on Friday will be crucial for markets to get clarity over future rate cuts which may affect gold prices, Patel said.

 

In the national capital, gold of 99.9 per cent purity advanced Rs 25 to Rs 38,995 per 10 gram, while that of 99.5 per cent gained Rs 5 to Rs 38,825 per 10 gram.

Sovereign gold stood steady at 28,800 per eight gram. Silver ready held flat at 45,100 per kg, while weekly-based delivery declined Rs 99 to Rs 43,666 per kg. Silver coins held flat at Rs 91,000 for buying and Rs 92,000 for selling of 100 coins.

Tags: gold, silver, gold price, silver price
Location: India, Delhi, New Delhi