Gold prices rise Rs 500, silver jumps Rs 800 amid wedding festivities

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Gold prices rose Rs 500 to reclaim the Rs 80,000 mark in the national capital on Friday amid fresh buying by local jewellers and retailers for the wedding festivities, according to the All India Sarafa Association.

Silver also jumped Rs 800 to Rs 94,600 per kg against the previous close of Rs 93,800 per kg.The price of gold of 99.5 per cent purity climbed Rs 500 to Rs 79,600 per 10 grams.

Besides, gold prices witnessed an uptick as investors bet on this asset class as a safe haven, owing to depreciation in the rupee against the US dollar (USD).

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Category: BusinessFinance

Markets: India

Topics: Silver Gold Commodities Multi Commodity Exchange Wedding festivities

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-08 @ 19:05:22 (8 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 531 words

Reading Time: 3 minutes read

Sentences: 18 lines

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Copyright Owner: © Business Standard

News ID: 23470370

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