Gold hits Rs 29,000 mark on risk-off sentiment
DSIJ Intelligence / 20 May 2017
The recent US political turmoil resulted in an increase in the bullion prices by Rs 215 to Rs 29,200 per grammes on May 19, 2017, reflecting the global trends and the binge buying by the local jewellers.
The recent US political turmoil resulted in an increase in the bullion prices by Rs 215 to Rs 29,200 per grammes on May 19, 2017, reflecting the global trends and the binge buying by the local jewellers.
Reclaiming the Rs 29,000 level, the rise in Gold prices continued on the third consecutive day. May 19, 2017, as the political crisis in the US, deepened with the dismissal of the FBI director.
Silver also recaptured the Rs 39,000-mark with a rise of Rs 350 to Rs 39,150 per kg, driven by an industrial demand and coin manufacturers.
Globally, gold increased by 0.31 per cent to USD 1,250.70 an ounce and silver was up by 0.85 per cent to USD 16.69 an ounce in Singapore.
US Dollar has also been weak against the Rupee in the current month of May 2017.
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