Gold retouches all-time high mark of Rs 38,470 on jewellers’ buying

Gold prices on Monday retouched the all-time high mark of Rs 38,470 per 10 gram in the national capital after the precious metal advanced by Rs 50 on fresh buying from jewellers amid positive overseas trend, according to the All India Sarafa Association. On Thursday, gold had hit record high price of Rs 38,470 per 10 gram in the national capital.

Silver, however, plunged Rs 1,150 to Rs 43,000 per kg on reduced offtake by industrial units and coin makers.

According to analysts, the rise in local demand, along with positive global trend, mainly led to the upward movement in gold prices.

Globally, gold was trading higher at USD 1,503.30 an ounce in New York amid growing Sino-US trade tensions after US President Donald Trump on Friday reiterated that he was not ready for a deal with China, prompting investors to move towards safe-haven assets like gold.

The yellow metal has made considerable gains in the past few days due to ongoing trade conflict.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity gained Rs 50 to Rs 38,470 and Rs 38,300 per 10 gram, respRead More – Source

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