New Delhi: Rising for the second straight day, gold prices added 55 to 27,185 per 10 grams, tracking a firming global trend amid increased buying by jewellers in the ongoing wedding season. Silver also recovered by 90 to 34,930 per kg on pick-up in demand from industrial units and coin makers.

Traders said a firming trend overseas where gold climbed after data showed a further contraction in China’s manufacturing, adding to the case for haven assets as investors boost holdings, mainly influenced sentiment here.

Globally, gold rose 0.5% to $1,123.88 an ounce in Singapore. In addition, continued buying by jewellers and retailers to meet the wedding season demand supported the upside, they said. In the national capital, gold of 99.9% and 99.5% purity rose further by 55 each to 27,185 and 27,035 per 10 grams, respectively.

The precious metal had gained 80 in Saturday’s trade.

Sovereign, however, remained steady at 22,500 per piece of eight grams in limited deals. Silver ready also recovered by 90 to 34,930 per kg, while weekly-based delivery shed 30 to 34,720 per kg on lack of speculators’ buying. On the other hand, silver coins ruled flat at 50,000 for buying and 51,000 for selling of 100 pieces.

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