Gold in India trades on mixed note as global prices gain over weak dollar
While global markets felt the heat of traders over US President Donald Trump's rekindling fears of a potential trade war, which resulted in weak dollar, investors have found love for yellow metal as they inch up ahead, however, in India the prices of gold were on mixed note.
According to data given by GoodReturns.In, 22 karat gold in 10 gram in India surged by Rs 40 to Rs 30,000 on Wednesday, the prices of 24 karat gold in 10 gram tumbled with a massive Rs 593 to Rs 32,090.
On March 6, 22 karat gold in 10 gram stood at Rs 29,960, while the 24 karat gold in 10 gram was at Rs 32,683.
Going ahead, 22 karat gold in 100 gram surged by Rs 400 to Rs 3,00,000 from previous day price of Rs 2,99,600. On the other hand, 24 karat gold in 100 gram slipped by a whopping Rs 5,930 to Rs 3,20,900 as against its previous day price of Rs 3,26,830.
Here's a list of gold rates in major cities of India, as per GoodReturns.In.
Meanwhile, the prices of silver remained unchanged at Rs 41,700 in 1kg compared to their previous day.
Spot gold rose 0.1 percent to $1,335.02 per ounce by 0314 GMT, having hit $1,340.42 an ounce earlier in the session, its highest since Feb. 26.
US gold futures for April delivery rose 0.1 percent to $1,336.30 per ounce.
Jordan Eliseo, chief economist at gold trader ABC Bullion, in a Reuters report said, "Volatility in risk assets, and concerns around the implications of Trump`s tariff rhetoric has helped propel gold higher."
While, global silver fell by 0.1% to $16.71 per ounce, after hitting its highest in more than two weeks.