Gold prices rose for the fourth straight day today, gaining Rs 800 to Rs 43500 per 10 grams, in sync with a firm global trend amid persistent buying by jewellers at the domestic spot market.
This is for the 24-carat market. The 22-carat gold is around 39000. The Gold rates are hovering but the Silver rate is not going beyond Rs 50000 per Kg.
Market participants said that besides a firming trend overseas after US job data missed estimates, thus boosting the metal’s appeal, increased buying by jewellers at the domestic spot market mainly kept precious metals higher.
There is every chance that the Gold rates will further rise.