Gold price jumps Rs 160 while price remain flat overseas

New Delhi: Gold prices on Tuesday moved upward, gaining Rs 160 to Rs 35,880 per 10 gram in the national capital due to fresh buying from jewellers even as the precious metal remained flat overseas.

Silver also firmed up by Rs 150 to Rs 42,050 per kg on increased off-take by by industrial units and coin makers.

Bullion traders said the pick-up in demand helped the rally in the precious metal.

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Globally, gold was trading flat at USD 1,427.60 an ounce in New York, as investors were cautious ahead of crucial trade talks between the US and China.

The investors are also awaiting the outcome of the US Federal Reserve's meeting for further signals.

Meanwhile, silver globally also witnessed lack of movement and was trading steady at USD 16.54 an ounce.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity rose Rs 160 each to Rs 35,880 per 10 grams and Rs 35,710 per 10 grams, respectively.

Sovereign gold held steady at Rs 27,500 per eight grams.

Silver ready gained Rs 150 to Rs 42,050 per kg and weekly-based delivery was advanced Rs 53 to Rs 41,239 per kg.

Silver coins were in good demand and traded higher by Rs 1,000 at Rs 85,000 for buying and Rs 86,000 for selling of 100 pieces, respectively.

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(PTI)