Gold rises ₹2,000 in Delhi amid retailers and stockists buying
Gold just got pricier in Delhi, up by ₹2,000 to ₹158,800 per 10gm on Tuesday. That's two days in a row of rising prices as retailers and stockists stepped up buying.
Silver also climbed by ₹730 to hit ₹240,730 per kilogram after holding steady for a couple of days.
These numbers come from the All India Sarafa Association.
Gold and silver dip globally
Globally, gold and silver prices actually dipped a bit (gold down 0.5% and silver over 1%), with gold hovering around $4,392 per ounce as crude oil rebounded on supply concerns emanating from West Asia.
Still, investment demand stayed strong with more money flowing into gold-backed funds.
Experts say softer US Fed rate expectations and ongoing central bank buying (especially from China) are keeping gold supported.
Meanwhile, silver is feeling pressure from firm US Treasury yields and some profit-taking as investors wait for clues about future US interest rates.