Gold nears ₹1 L-mark on weak dollar, tariff woes

Gold prices inched closer to the psychological mark of ₹1 lakh per 10 grams as the bullion rates surged ₹1,650 in the national capital on Monday on weak dollar and uncertainties over the US-China trade war driving demand.

- Press Trust of India

NEW DELHI:

According to the All India Sarafa Association, the yellow metal of 99.9% purity reached ₹99,800 per 10 grams on Monday. Its value had declined ₹20 to close at ₹98,150 per 10 grams on Friday.

Gold of 99.5% purity bounced ₹1,600 to hit a fresh peak of ₹99,300 per 10 grams in the local markets. It had fallen marginally to settle at ₹97,700 per 10 grams in the previous market close.

So far this year, the yellow metal prices have risen ₹20,850, or 26.41%, per 10 grams since December 31, last year.

Silver prices also appreciated ₹500 to ₹98,500 per kg. The white metal had traded flat at ₹98,000 per kg on Friday.