Gold Extends Gains on Jewellers Buying, Global Cues

Continuing its rising streak for the third straight day, gold prices rose by another Rs 40 to trade at Rs 27,120 per ten grams at the bullion market today on continued buying by jewellers to meet wedding season demand amidst firming trend overseas.

Silver also gained Rs 100 at Rs 37,000 per kg on increased offtake by industrial units and coin makers.

Marketmen said sustained buying by jewellers to meet marriage season demand amid a firming global trend mainly boosted the sentiment here.

Gold Extends Gains on Jewellers Buying, Global Cues

Gold in Singapore, which normally sets price trend on the domestic front, rose by 0.2 per cent to USD 1,209.65 an ounce and silver by 0.5 per cent to USD 16.54 an ounce.

In the national capital, gold of 99.9 and 99.5 per cent purity advanced by Rs 40 each to Rs 27,120 and Rs 26,970 per ten gram respectively. It had gained Rs 330 in the previous two sessions.

Sovereign, however, held steady at Rs 23,700 per piece of eight gram in restricted buying.

Following gold, silver ready rose by Rs 100 to Rs 37,000 per kg, while weekly-based delivery shed Rs 10 at Rs 36,700 per kg.

Silver coins spurted by Rs 1,000 to Rs 56,000 for buying and Rs 57,000 for selling of 100 pieces.


Read more about: gold, silver
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