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in tandem with firming trend overseas.Moreover, persistent buying by jewellers' to meet the ongoing wedding season demand too supported the uptrend.Silver also surged by Rs 600 to Rs 41,600 per kg
Gold for delivery in June spurted by Rs 263, or 0.89 percent, to Rs 29,949 per 10 grams, in a business turnover of 4,997 lots.
At the Multi Commodity Exchange, silver for delivery in far-month July was trading higher by Rs 516, or 1.23 percent, to Rs 42,300 per kg, in a business turnover of 3,367 lots.
According to Angel Commodities , The rise in silver prices is in line with rise in gold prices and weak dollar index. Further, positive base metals supported gains.
Watch Manisha Gupta of CNBC-TV18 speaking about the current trend in commodities markets and currency market action.
Gold Trust , the world's largest gold-backed exchange-traded fund, rose 0.19 percent to 804.14 tonnes on Thursday.* Among other precious metals, silver was on track for a fourth straight weekly gain
Government in Rajya Sabha today refused to budge from its stance on levying one per cent excise duty on non-silver jewellery saying luxury items cannot be kept out of tax ambit for perpetuity
Silver followed suit and recaptured the crucial Rs 41,000-mark per kg by gaining Rs 25 due to increased offtake by industrial units and coin makers.
Watch the interview of Navneet Damani of Motilal Oswal Commodities with Manisha Gupta & Ekta Batra on CNBC-TV18. He spoke about the current trend in commodities markets.
Spot gold had eased 0.1 percent to USD1,244.50 an ounce by 0043 GMT. The metal has gained about 1 percent in the last three sessions.
The market, which opened after two days of jewellers' strike against 1 percent excise duty on non-silver jewellery, witnessed rising demand from retailers and stockists for the ongoing wedding season
Watch the interview of Hitesh Jain of IIFL with Manisha Gupta, Latha Venkatesh and Anuj Singhal on CNBC-TV18. He spoke about the current trend in commodities markets.
Hong Kong climbed to a three-month high in March on restocking after the new year holiday, but market sources said consumer demand remained soft.* Slowing silver supplies combined with firm manufacturing
Jewellers and bullion traders in several parts of the country, including Delhi, today resumed their strike, demanding rollback of the one percent excise duty on non-silver jewellery.Most of the shops
According to Achiievers Equities, Silver prices dropped amid a considerable sell-off late in the session, as a persistently sluggish dollar surged to one-week highs weighing on metal.
Gold prices eased by Rs 100 to Rs 29,800 per ten grams at the bullion market today owing to slackened demand from jewellers and customers at prevailing levels amid a weak global cues.Silver also
At the Multi Commodity Exchange, gold for delivery in far-month August declined by Rs 41, or 0.14 percent to Rs 29,547 per ten grams in a business turnover of 52 lots.
Watch the interview of Naveen Mathur of Angel Commodities with Manisha Gupta and Anuj Singhal on CNBC-TV18. He spoke about the current trend in commodities markets.
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