Gold prices soared by Rs 250 to Rs 30,900 per ten grams at the
bullion market on Thursday, propelled by positive global cues amid
increased buying by jewellers at the domestic spot market.
Silver also spurted by Rs 1,550 to Rs 47,750 per kg on increased offtake by industrial units and coin makers.
Bullion traders said a firming trend overseas after the US Federal Reserve indicated it would take a slow, measured approach to any interest rate hikes amid weakening dollar, raised the demand for the precious metals as a safe-haven, mainly attributed strong rally in gold and silver prices.
Globally, gold rose 1.52 per cent to $1,339.70 an ounce and silver by 3.75 per cent to $20.32 an ounce in New York yesterday.
Silver also spurted by Rs 1,550 to Rs 47,750 per kg on increased offtake by industrial units and coin makers.
Bullion traders said a firming trend overseas after the US Federal Reserve indicated it would take a slow, measured approach to any interest rate hikes amid weakening dollar, raised the demand for the precious metals as a safe-haven, mainly attributed strong rally in gold and silver prices.
Globally, gold rose 1.52 per cent to $1,339.70 an ounce and silver by 3.75 per cent to $20.32 an ounce in New York yesterday.
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