Gold climbs Rs300 on seasonal buying, firming global cues
Gold of 99.9 and 99.5% purity shot up by Rs300 each to Rs28,800 and Rs28,600 per ten gram respectively
New Delhi: Continuing its rising streak, gold prices flared up by Rs300 to Rs28,800 per ten gram in Delhi bullion market on Thursday on sustained buying by jewellers and retailers for the festive season amid firming global cues.
Bullion traders said besides increased buying by jewellers and retailers to meet festive season demand, a firming global trend amid escalating tensions over Ukraine has raised demand for a safe-haven, resulting into influence on gold prices here too.
Gold in Singapore, which normally sets price trend on the domestic front, rose by 0.2% to $1,308.13 an ounce and silver by 0.2% to $20.08 an ounce.
In Delhi, gold of 99.9 and 99.5% purity shot up by ₹ 00 each to ₹ 8,800 and ₹ 8,600 per ten gram respectively. The precious metal had gained ₹ 10 in Wednesday’s trade. In line with overall trends, sovereign also moved up by ₹ 100 to ₹ 4,900 per piece of eight gram.
Silver ready recovered by Rs450 to Rs44,500 per kg and weekly-based delivery by Rs395 to Rs44,040 per kg. Silver coins, however, remained steady at Rs77,000 for buying and Rs78,000 for selling of 100 pieces.
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