High gold prices may take sheen off sales this Akshaya Tritiya

| Sunday, May 8, 2016 - 15:43
First Published |
Will this Akshaya Tritiya cheer up jewellers?

Will this Akshaya Tritiya cheer up jewellers?

New Delhi: Owing to the ongoing wedding season coupled with a firm overseas trend, gold prices shot up by Rs 225 to Rs 30,350 per 10 grams, at the bullion market, on Saturday, its highest since May 10, 2014.

Traders said sentiment was bolstered as gold had the biggest gain in a week after a report showing slow jobs growth weakened the case for the US Federal Reserve to raise interest rates, increasing appeal for precious metals.

Silver ready too soared by Rs 510 to Rs 41,550 per kg and weekly-based delivery by Rs 400 to Rs 41,730 per kg. Silver coins, however, continued to be traded at previous level of Rs 69,000 for buying and Rs 70,000 for selling of 100 pieces.

Meanwhile, some jewellers are hoping to make up for the loss they incurred during the month long strike in March. 








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