Gold glitters on jewellers' buying; weak rupee
Furthermore, a depreciating rupee which plunged to a fresh record low of 72.67 against the dollar, making imports costlier, fuelled the upmove, traders said.
Increased buying by local jewellers to meet rising demand for ornaments drove gold prices, but a weak overseas trend kept the gains limited.
Globally, gold softened 0.14 per cent to USD 1,194.50 an ounce in Singapore as the dollar strengthened against major currencies amid expectations of a US Federal Reserve interest rate hike this month, eroding demand for the precious metals as a safe haven.
In the national capital, gold of 99.9 per cent and 99.5
Sovereign however ruled flat at Rs 24,500 per piece of eight gram.
37,325 per kg.
Silver coins however continued to be traded at the
selling of 100 pieces.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)