Gold prices rise on firm global cues
Mumbai: Gold prices rose for the second straight session on Wednesday, gaining Rs 135 to Rs 27,895 per 10 grams at the bullion market here, tracking a firm global trend amid persistent buying by jewellers.
Silver too maintained its rising streak and gained Rs650 per kg due to increased offtake from industrial units. Standard gold (99.5 purity) climbed by Rs135 to close at Rs27,895 per 10 grams from Tuesday’s closing level of Rs27,760.
Pure gold (99.9 purity) rose by a similar margin at Rs28,045 per 10 grams as compared to Rs 27,910 previously.
Silver (.999 fineness) shot-up by Rs 650 to settle at Rs 36,860 per kg as against Rs 36,210 yesterday. Globally, gold held steady as investors awaited testimony from US Federal Reserve Chair Janet Yellen and central bank officials expressed caution about further interest rate hikes.
Spot gold rose 0.1% to $1,218.46 per ounce at early trade.
Among other precious metals, silver rose 0.4% to $15.84 per ounce.