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Gold prices rises to Rs 40,814 per 10 gram as China's coronavirus virus spreads

On Tuesday, gold prices climbed to Rs 40,814 per 10 gram as speculators widened their bets in line with positive overseas trend.

According to prices given by the Indian Bullion and Jewellers Association, on January 27 the rate without GST for gold (purity-999) is Rs 40,814 while for gold with purity-995 is Rs 40,651. Silver price rose to Rs 47,395 per kg from its closing on January 24.

Gold prices according to purity levels are as follows:

999 - Rs 40,814/-

995 - Rs 40,651/-

916 - Rs 37,386/-

750 - Rs 30,611/-

585 - Rs 23,876/-

On the Multi Commodity Exchange, gold contracts for February traded higher by Rs 228, or 0.57 per cent, to Rs 40,580 per 10 gram in a business turnover of 1,673 lots. The yellow metal for April delivery traded higher by Rs 241, or 0.6 per cent, at Rs 40,715 per 10 gram in a business turnover of 515 lots.

Fresh positions built up by participants taking positive cues from global markets mostly led to the rise in gold prices, analysts said. Globally, gold prices rose 0.53 per cent to USD 1,586.50 per ounce in New York.

(Inputs from PTI)