Gold Prices Soar Rs 2,000 in Delhi as Retailers Boost Buying

Gold prices in Delhi surged by Rs 2,000 to reach Rs 1.58 lakh per 10 grams on Tuesday, marking a second consecutive day of gains as retailers and stockists increased buying.

The price of gold with 99.9% purity rose to Rs 1,58,800 per 10 grams from Monday's closing level of Rs 1,56,800 per 10 grams, inclusive of all taxes.

Silver prices also rose by Rs 730 to Rs 2,40,730 per kilogram, after remaining flat at Rs 2,40,000 per kg for two sessions, according to the All India Sarafa Association.

Praveen Singh, Head of Commodities at Mirae Asset ShareKhan, attributed gold's price movement to crude oil prices rebounding on supply concerns emanating from West Asia, saying it was trading around USD 4,392 per ounce.