New Delhi: Both gold and silver improved on the bullion market on 19 March, following pick up in demand from jewellery makers triggered by higher overseas advices and closed with gains.
Marketmen said fresh buying in the wake of firm overseas advices and ongoing festival season mainly led to the rise in gold and silver prices.
Gold in international market firmed up and traded at $656.15 an ounce from $649.70 on weakening of dollar after China unexpectedly raised interest rates.
They said the beginning of “Navratras”, an auspicious week in Hindu mythology to purchase fresh things also boosted the trading sentiment among jewellery fabricators.
Standard gold and ornaments rose by Rs20 at Rs9,450 and Rs9,300 per ten grams respectively on fresh buying interest.
Meanwhile sovereign remained unchanged at Rs7,825 per piece of eight grams.
In similar fashion, silver ready moved up by Rs25 at Rs19,500 per kilo and weekly-based delivery by Rs100 at Rs19,750. Silver coins also quoted higher by Rs100 at Rs24,000 for buying and Rs24,100 for sale of 100 coins.