Gold spirals on brewing tension between US, NK

Source: The Hitavada      Date: 13 Aug 2017 11:02:26


Aug 12,


GOLD surged by Rs 30 to Rs 30,050 per ten grams at the bullion market here on Saturday on the back of mounting tension between the US and North Korea, and persistent buying by local jewellers. Silver, too, gained Rs 70 to Rs 40,200 per kg on increased offtake by industrial units and coin makers. Bullion traders said the gold prices headed north as rising tension between the two countries triggered safe-haven buying.

In the National Capital, gold of 99.9 and 99.5 per cent purity gained Rs 30 each to Rs 30,050 and Rs 29,900 per 10 grams, respectively. The precious metal had gained Rs 670 in last three days. Sovereign, however, remained flat at Rs 24,500 per piece of eight grams.