In the commodity market, the price of precious metal gold appreciated by Rs.590 as the union government has proposed the budget recommendation to increase the customs duty of gold and other precious metals. The new move by the government will make gold expensive in the Indian market.
In the international market, spot gold was trading at $ 1,413 an ounce. In New Delhi gold of 99.9% and 99.5% purity appreciated by Rs.590 to reach at Rs.34,800 and Rs.34,630 per 10 gram. The price of sovereign gold also rose by Rs.200 to reach at Rs.27,000 per eight gram.
In the international market, silver was trading at a lower price of $ 15.22 an ounce. In the Indian market, the price of silver declined today. Silver price by declined by Rs.80 to reach Rs.38,500 a kilo. Weekly based delivery of silver rose by Rs.75 to reach Rs.37,225 a kilo. The price of the silver coin remained firm at Rs.80,000 for buying and Rs.81,000 for selling of 100 pieces.
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