Gold jumps 1-month high of Rs28,725 on stockists buying1 min read . Updated: 21 Jun 2014, 03:48 PM IST
Gold of 99.9 and 99.5% purity advanced by Rs100 each to Rs28,725 and Rs28,525 per 10 grams respectively
New Delhi: Gold prices on Saturday jumped up by Rs100 to trade at a fresh one-month high of Rs28,725 per 10 grams in Delhi bullion market on increased buying by stockists and investors. Silver, however, held steady at Rs44,900 per kg in restricted buying at prevailing levels.
Marketmen said increased buying by stockists and jewellers to meet wedding season demand, mainly attributed persistent rise in gold prices but a weak trend overseas, capped the gains.
A weak rupee against the dollar, making gold imports costlier also influenced prices, they said.
In Delhi, gold of 99.9 and 99.5% purity advanced by Rs100 each to Rs28,725 and Rs28,525 per 10 grams respectively. On Friday, it had recorded its biggest single-day rise of Rs605 this year. Sovereigns held flat at Rs24,900 per piece of eight grams.
On the other hand, silver ready ruled steady at Rs44,900 per kg, while weekly-based delivery gained Rs190 to Rs44,570 per kg on scattered support.
Silver coins, however, lacked necessary follow up support and plunged by Rs2,000 to Rs78,000 for buying and Rs79,000 for selling of 100 pieces.