Gold in India rises as global prices reversed trend

Gold in India saw uptick in its valuation, after global prices recovered from their previous week’s losses.

On Monday, 24 karat gold of 10 gram was valued at Rs 32,629, up by Rs 33, compared to the previous price of Rs 32,596. While 100 gram of gold of the same karat was priced at Rs 3,26,290, higher by Rs 330, as against Rs 3,25,960 of the previous day. 
 
However, 22 karat gold of 10 gram surged by Rs 30 to Rs 29,910 on February 26, compared to previous day prices of Rs 29,880. Also, 100 gram of this karat was available at Rs 2,99,100 - above Rs 300 versus previous day price of Rs 2,98,800. 
 
Meanwhile, silver prices remained unchanged on Monday as against previous day prices. Silver of 1 kg was valued at Rs 41,600, while 100 gram of this metal was priced at Rs 4,160. 
 
Spot gold rose 0.1% at $1,330.59 an ounce at 0118 GMT. Prices fell 1.4 percent for the week ended February 23, the biggest decline in 2-1/2 months.
 
US gold futures were up 0.1% at $1,332.3 per ounce.
 
According to Reuters report, the prices trend higher because the US dollar steadied following recent gains. The dollar index, which measures the greenback against a basket of currencies, was flat at 89.881.