Gold,silver prices soar on global surge to nearly two-week high

Gold price bounced back strongly today on renewed off-take by stockists and traders.

Gold price bounced back strongly and hit nearly two-week high at the bullion market here today on renewed off-take by stockists and traders amidst positive cues from overseas markets.

Silver also recovered on hectic speculative buying coupled with good industrial demand.

Standard gold of 99.5 per cent purity spurted by Rs 430 to finish at Rs 26,640 per 10 gm from Wednesday’s closing level of Rs 26,210.

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Pure gold of 99.9 per cent purity also climbed up by a similar margin to end at Rs 26,775 per 10 gm from Rs 26,345.

Silver ready (.999 fineness) rose by Rs 850 to close at Rs 41,860 per kg from Rs 41,010 previously.

At the global level,gold jumped to a near three-week high on weak dollar after the release of the minutes of US Federal Reserve meet in June indicated continuation of easy monetary stimulus measures by the Central bank.

In London,spot gold was bid higher at USD 1,282.31 an ounce in early trade and silver bid up at USD 20.26 an ounce.

PM Modi addresses the nation ahead of the rollout of new GST rates.

PM Modi says ‘GST savings festival’ begins soon: how household budgets are set for boost

Explained1 min ago

Ahead of the rollout of GST 2.0 effective from September 22, companies have announced lower prices for over 375 common-use goods. The government has urged corporates to pass on the benefits to consumers, resulting in cheaper prices for FMCG products, milk, butter, cheese, pickles, jams, and ice creams. Other items like shampoo, soap, cement, durable goods, and cars may also see a reduction.

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