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Gold prices rise by Rs160 on global cues

LiveMint logoLiveMint 17-05-2017 PTI

New Delhi: Riding on the tailwinds of global cues and domestic buying, gold prices were up by Rs160 to Rs28,760 per 10 grams on Wednesday.

Silver prices, too, were back on the top of the Rs39,000 level as they surged Rs400 to Rs39,300 per kg, spurred by higher buying by industrial units and coin makers.

According to traders, a shaky dollar gave the precious metals some traction among investors, which too found support from local jewellers at the domestic market.

Globally, gold rose by 0.51% to $1,243 an ounce and silver by 0.03% to $16.84 in Singapore.

Also Read: Global gold prices shine as Donald Trump’s mounting troubles hurt dollar

In the national capital, gold of 99.9% and 99.5% purity recovered by Rs160 each to Rs28,760 and Rs28,610 per 10 grams, respectively.

The yellow metal had ceded Rs30 on Tuesday. Sovereign traded higher by Rs100 to Rs24,400 per piece of eight grams.

Tracking gold, silver ready surged by Rs400 to Rs39,300 per kg and weekly-based delivery by Rs280 to Rs39,000 per kg.

In keeping with the overall direction, silver coins went up by Rs1,000 to Rs70,000 for buying and Rs71,000 for selling of 100 pieces.

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