Gold prices have gone up by Rs 200 which marked its price at Rs 30,600 per 10 gram which is the highest llevel for this year after the news of North Korea testing the hydrogen bomb has emerged. The news has prompted SOuth Korea to conduct was drills testing its missiles and US condemning it along with Japan but US Defence Secretary went ahead and gave a stern warning about military action in case of any possible attack on them or its allies.
It was not only Gold but also the Silver which shot up by Rs.200 to trade at Rs 41,700 per kg backed by increased offtake by industrial units and coin makers. Gold is the most preferred mode of investment in India and the bul purchase by local jewellers has also attributed to the cause in the increase in prices.
Globally, gold rose 0.71 per cent at $1,333.80 an ounce in Singapore. Gold was traded in India at Rs.30,600 for 99.9% purity and Rs.30,450 for 99.5% purity. The precious metals had gained Rs 350 in the previous two sessions.
The 22kt Gold which is mostly used for making ornaments however remained unchanged at Rs 24,600 per piece of eight gram. Silver coins were priced and traded at previous levels where prices are determined per 100 pieces. The price of buying was at Rs.74,000 and for selling, it was at Rs.75,000.