New Delhi: Gold prices skyrocketed by Rs 550 to trade at Rs 30,450 per 10 grams in the bullion market on Tuesday after North Korea fired a missile over Japan, deepening the tension between Pyongyang and the US.
Silver followed suit to recover the Rs 41,000 mark by raising Rs 900 to Rs 41,100 per kg in an increase in the consumption of industrial units and coin manufacturers.
Bullion traders said a steady trend abroad, where gold rose to the highest level this year after North Korea fired a missile over Japan, boosting demand for shelter amid growing tensions between Pyongyang And the United States and its allies.
Buying local jewelers also helped the bullish trend. Worldwide, gold rose 0.90 percent to $ 1,322.41 an ounce, the highest intra-day since Nov. 9 last year and silver 0.66 percent at $ 17.54 a Ounce in Singapore.
In the national capital, gold of 99.9 and 99.5 percent of purity increased by Rs 550 each to Rs 30,450 and Rs 30,300 by 10 grams, respectively. Precious metals had lost Rs 50 in yesterday’s trade.
Sovereign also rose by Rs 100 to Rs 24,600 per piece of eight grams.
After gold, silver shot for Rs 900 to Rs 41,100 per kg and weekly delivery of Rs 675 to Rs 39,900 per kg.
Silver coins also dripped for Rs 1,000 to finish at Rs 74,000 for purchase and Rs 75,000 for sale of 100 pieces.
