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Gold prices jump Rs 370 to Rs 28,995 per 10 gm on Wednesday

Kolkata: Gold prices climbed by Rs 370 to Rs 28995 per 10 gm on Wednesday in the morning trade at the bullion market in tandem with rising global prices. A weak rupee also made gold costlier in the domestic market.

Talking to ET, Prithviraj Kotahri, managing director, RiddiSiddhi Bullion said “The growing doubts about Donald Trump’s economic agenda has pushed up prices of gold. If this continues then gold may push up further going ahead.”

Silver prices too went up taking a cue from the yellow metal by Rs 435 to touch Rs 41660 per kg.

In the international markets, gold prices rose to a three-week high on Wednesday as risk-averse investors dumped equities amid a weaker dollar and sought safe havens.

Spot gold had risen 0.3 percent to $1,247.56 per ounce by 0644 GMT, after touching a three-week peak of $1,248.47. U.S. gold futures were firm at $1,246.30.