Gold, Silver Extend Gains On Jewellers Buying, Global Cues

Supported by sustained buying from jewellers and retailers to meet wedding season demand and a firming trend overseas, gold prices rose by Rs 160 to Rs 26,860 per ten grams at the bullion market today.

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Gold, Silver Extend Gains On Jewellers Buying, Global Cues

Silver also advanced by Rs 200 to Rs 35,000 per kg on increased offtake by industrial units and coin makers.

Traders said besides firming trend overseas, sustained buying by jewellers, driven by wedding season demand mainly kept gold and silver prices higher.

Globally, gold traded shade higher at USD 1,134.12 an ounce in Singapore.

In the national capital, gold of 99.9 and 99.5 per cent purity climbed Rs 160 each to Rs 26,860 and Rs 26,710 per ten gram respectively. It had gained Rs 50 on Friday.

Sovereign, however, continued to traded at last level of Rs 22,500 per piece of eight gram.

In a similar fashion, silver ready continued its upward march and rose by another Rs 200 to Rs 35,000 per kg and weekly-based delivery by Rs 30 to Rs 34,325 per kg.

Silver coins spurted by Rs 1,000 to Rs 51,000 for buying and Rs 52,000 for selling of 100 pieces.


Read more about: gold, silver, dollar
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