Gold in India rises as global prices up over subdued dollar index
While gold prices in India have seen uptick on Monday, the price of silver saw negative trend during the day.
With the dollar index being subdued over fears of global trade war, the global prices swing up on Monday's trading session. The uptrend was also followed by Indian yellow metal as prices rise so far in the day.
According to GoodReturns.in data, 24 karat gold of 10 gram today valued at Rs 32,716 - up by Rs 11 as against previous day price of Rs 32,705. While 100 gram gold of 24 karat was available at Rs 3,27,160 - higher by Rs 110 versus previous day prices of Rs 3,27,050.
Similar was the case of 22 karat gold, as 10 gram in this metal surged by Rs 10 to Rs 29,990 versus previous day price of Rs 29,980, whereas 100 gram of this metal grew by Rs 100 to Rs 2,99,900 as against previous day prices of Rs 2,99,800.
Here's a list of gold rates in major Indian cities on Monday.
Meanwhile, silver prices were trading on a negative note, with 1 KG of silver at Rs 41,600 down by Rs 100 as against previous day prices of Rs 41,700.
Spot gold was up 0.3% at $1,326.41 per ounce at 0414 GMT. Earlier in the session, it hit $1,327.03, their highest since February 27. Also, US gold futures climbed 0.3% to $1,327.70 per ounce.
According to a Reuters report, the dollar index, which measures the greenback against a basket of major currencies, was mostly unchanged at 89.971, after falling against most currencies on Friday.
"The US currency slipped from its six-week high that it touched on March 1, after US President Donald Trump announced plans to levy hefty tariffs on aluminium and steel imports igniting fears of retaliation from its trade partners triggering a trade war," the report added.