New Delhi : Gold prices on Monday rose by Rs. 75 to Rs. 32,720 per 10 grams at the bullion market, reported news agency Press Trust of India quoting the All India Sarafa Association. The prices advanced on fresh buying from jewellers amid firm trend overseas.
Silver, however, declined Rs. 70 to Rs. 38,130 per kg due to reduced offtake by industrial units and coin makers. US President Donald Trump announcing to impose higher tariffs on Chinese goods boosted appeal for the bullion, traders said.
Silver ready dropped by Rs. 70 to Rs. 38,130 per kg and weekly-based delivery surged by Rs. 313 to Rs. 37,290 per kg. Silver coins were in demand and traded higher by Rs. 1,000 at Rs. 79,000 for buying and Rs. 80,000 for selling of 100 pieces, respectively.
Globally, gold prices climbed on Monday after US President Donald Trump threatened to raise tariffs on Chinese goods, escalating Sino-US trade tensions, which prompted investors to sell riskier assets and boost safe-haven bullion, reported news agency Reuters.
Spot gold was up 0.2 per cent at $1,281.63 per ounce in intraday trade. US gold futures also gained 0.2 per cent to $1,283.20 an ounce.
In Delhi, gold of 99.9 per cent and 99.5 per cent purity advanced by Rs. 75 each to Rs. 32,720 and Rs. 32,550 per 10 grams, respectively. On Saturday, the yellow metal had gained by Rs. 175 to Rs. 32,645 per 10 grams.