Gold maintains upward march on increased buying, global cues

Gold

Gold prices today rose by Rs 135 to Rs 31,400 per 10 gm in the national capital today on continued buying by stockists and jewellers to meet the coming marriage season demand amid a firming global trend.

Silver also gained by surging Rs 800 to Rs 59,100 per kg on increased offtake by industrial units and coin makers.

Buying activity gathered momentum as stockists and jewellers increased their holdings to meet the coming wedding season demand, traders said.

They said firming global trend where gold traded near a two-week high in overseas markets increased demand for the metal also influenced the sentiment.

Gold in Singapore rose by 0.2 per cent to USD 1,690.10 an ounce and silver by 0.2 per cent to USD 31.09 an ounce.

On the domestic front, gold of 99.9 and 99.5 per cent purity added Rs 135 each to Rs 31,400 and Rs 31,200 per 10 gm, respectively. It had gained Rs 340 in last three days.

Sovereign held steady at Rs 25,450 per piece of 8 gram.

Similarly, silver ready surged by Rs 800 to Rs 59,100 per kg and weekly-based delivery by Rs 765 to Rs 59,165 per kg.

The white metal had gained Rs 1300 in the previous two sessions.

Silver coins flared up by Rs 1,000 to Rs 81,000 for buying and Rs 82,000 for selling of 100 pieces.

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