Gold prices rise after two-month low

In India, prices rise above Rs.230
Gold prices rise after two-month low

Gold prices recovered by Rs.230 to Rs.28,260 per 10 grams in India’s capital city New Delhi, after a nine-day span of weak prices, after losing Rs 790 in the nine day period, reports say. Reports attribute this to international trends firming and demand from jewellers and retailers at the current levels. Markets note that the global trends firmed after speculation that prices when hit a two month low would inspire purchases, reports say.

Silver also rose by Rs 400 to Rs 43,000 per kg , following increased interest by industrial units and coin makers.

In the international market, in Singapore, increased 1 percent to USD 1,289.06 an ounce and silver also by 1 percent to USD 19.54 an ounce, spurred by chart-based buying. But there is speculation that the growth could be curbed based on the firmer U.S. dollar and rallies in equity market, reports say.


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