Gold Price Surges On Weak Dollar And Increased Local Buying

The precious metal in the Monday trade surged in value by Rs. 100 moved by global sentiments as well as more demand from the local buyers. The ongoing wedding season demand is pushing up the price of gold. In the international market, gold rose by $1,291.40 an ounce which is an increase of 0.27% in price.

In the national capital, the prices for the gold of 99.9% and 99.5% purity trended at Rs. 30,550 and Rs. 30,440 respectively per 10 gram.

In the global market, dollar lost ground and was seen trading at two-month's low which further increased the appeal of the precious metal as the safe haven.

Meanwhile, silver also increased in value by Rs. 100 to Rs. 40,400 owing to increased demand by industrial units and coin makers.

With Input from PTI