Precious metals rise on positive global cues

摘要

Gold prices Friday last climbed Rs 250 to Rs 34,250 per 10 gram at the bullion market tracking positive global cues, according to All India Sarafa Association. Silver, however, declined by Rs 50 to Rs 41,300 per kg on subdued demand from industrial units and coin makers. Traders attributed the rise in the gold prices to US Fed maintaining status quo with the interest rates. The Federal Reserve left the key US lending rate unchanged on Wednesday last and said it would be "patient" about making any further changes. However, lacklustre demand from local jewellers capped the hike in price of precious metal, they added.