Gold regains Rs 31,000 mark on renewed demand, silver tops 45,000

Mumbai: Gold reclaimed the Rs 31,000-mark at the domestic bullion market here today following fresh offtake from investors and stockists driven on black money crackdown and surge in global cues in view of Donald Trump’s victory in US presidential election.

Elsewhere, silver reclaimed Rs 45,000 mark by surging Rs 1,390 per kg, on heavy speculative rally.

Globally, gold prices jumped nearly 5 percent as US Republican nominee Donald Trump prevailed over Democrat Hillary Clinton in the race for the White House, prompting a dive in stocks and the dollar as investors bolted for safety.

Standard gold (99.5 purity) spurted by Rs 815 to end at Rs 31,145 per 10 grams from Tuesday’s level of Rs 30,330.

(The level has not been seen since September 20, 2016)

Pure gold (99.9 purity) also climbed by a similar margin to close at Rs 31,295 per 10 grams as compared to Rs 30,480 earlier.

Silver (.999 fineness) zoomed up by Rs 1,390 to finish at Rs 45,370 from Rs 43,980 yesterday. (The level has not been seen since September 12, 2016).

London, spot gold vaulted to a six-week high of USD 1,337.40 an ounce, up nearly 5 percent, and was at USD 1,300.80 in early European trade.

US gold futures for December delivery were up USD 26.90 an ounce at USD 1,301.40, having peaked at USD 1,338.30.

Spot silver was at USD 18.65 an ounce, up 1.6 percent, having risen to its highest since Oct 3 at USD 18.996 an ounce. PTI