Gold, silver remain up on wedding season demand, global cues
Gold of 99.9 and 99.5% purity added another Rs10 each to Rs27,500 and Rs27,300 per ten grams, respectively
New Delhi: Gold prices rose further by Rs10 to Rs27,500 per ten grams on Wednesday in Delhi bullion market on the back of pick-up in buying by jewellers to meet wedding season demand amid a firming global trend.
Traders said increased buying by jewellers, driven by wedding season demand and a better trend in global markets ahead of the outcome of the US Federal Reserve’s monetary policy meeting, mainly kept precious metals higher.
Gold in Singapore, which normally sets price trend on the domestic front, traded a shade higher at $1,230.27 an ounce.
In Delhi, gold of 99.9 and 99.5% purity added another Rs10 each to Rs27,500 and Rs27,300 per ten grams, respectively, while sovereign remained flat at Rs24,200 per piece of eight gram.
Silver ready gained Rs150 to Rs38,400 per kg and weekly-based delivery by Rs30 to Rs38,220 per kg. Silver coins, however, continued to be traded at last level of Rs66,000 for buying and Rs67,000 for selling of 100 pieces.
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