Gold rises on positive global cues, jewellers’ buying
New Delhi: Gold on Saturday rose by Rs100 to Rs31,450 per 10 gram to end its two-day slide at the bullion market on buying by local jewellers after positive global trends.
Silver also rebounded by Rs265 to Rs39,650 per kg backed by increased offtake by industrial units and coin makers. Traders said apart from a firm trend overseas, fresh buying by local jewellers at domestic spot market led to the recovery in gold prices.
Globally, gold rose 0.11% to $1,323.10 an ounce and silver by 0.64% to $16.57 an ounce in New York on Friday.
In the national capital, gold of 99.9% and 99.5% purity went up by Rs100 each to Rs31,450 and Rs31,300 per ten gram, respectively. The precious metal had lost Rs320 in the last two sessions. Sovereign, however, remained flat at Rs24,800 per piece of eight gram.
Following gold, silver ready rose by Rs265 to Rs39,650 per kg and weekly-based delivery by Rs255 to Rs38,945 per kg. Silver coins, however, continued to be traded at previous level of Rs74,000 per 100 pieces for buying and Rs75,000 per 100 pieces for selling.
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