New Delhi, Jan 25 Gold prices soared by Rs 350 to trade at over 14-month high of Rs 31,450 per 10 gram today, tracking a firm trend overseas amid pick-up in buying by local jewellers.
Silver regained the Rs 41,000-mark by jumping Rs 1,100 on increased offtake by industrial units and coin makers.
Bullion traders attributed the rally in gold to a firm trend overseas as the dollar weakened to near three-year lows in the wake of comments by US Treasury secretary Steven Mnuchin that he welcomed a weaker currency, raising demand for the precious metal as a safe haven.
Besides, an uptick in seasonal buying by local jewellers firmed up the prices, they added.
Globally, gold ruled firm as it rose 0.43 per cent to trade at nearly 1-1/2 year high of USD 1,363.60 an ounce in Singapore. Silver also rose by 0.29 per cent to USD 17.58 an ounce.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity shot up by Rs 350 each to Rs 31,450 and Rs 31,300 per ten gram, respectively, a level last seen on November 9, 2016. It had gained Rs 25 in yesterday’s trade.
Source” PTI
