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Gold Rises On Jewellers' Buying, Positive Overseas Trend

Traders said gold rallied due to fresh demand from local jewellers and a firm trend overseas.

Photo Credit : Reuters

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Gold prices Thursday shot up by Rs 120 to Rs 33,490 per 10 gram in the national capital on rise in demand from jewellers, and a firm trend overseas, according to the All India Sarafa Association.

Tracking gold, silver gained Rs 50 to Rs 37,900 per kg on increased offtake by industrial units and coin makers.

Traders said gold rallied due to fresh demand from local jewellers and a firm trend overseas.

Globally, spot gold was trading higher at USD 1,336.50 an ounce, while silver was quoting higher at USD 15.02 an ounce in New York.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity surged by Rs 120 each to Rs 33,490 per 10 gram and Rs 33,320 per 10 gram, respectively

Sovereign gold held steady at Rs 26,700 per eight gram.

Silver ready advanced by Rs 50 to Rs 37,900 per kg, while weekly-based delivery gained Rs 97 to Rs 36,950 per kg.

On the other hand, silver coins held flat at Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.

(PTI)


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