Home >Market >Stock-market-news >Gold prices soar Rs325 on wedding season demand, global cues

New Delhi: Gold prices on Saturday jumped by Rs325 to Rs30,775 per 10 grams at the bullion market on the back of wedding season demand and strong global cues.

Silver also recaptured the Rs41,000-mark by recovering Rs600 to Rs41,150 per kg on increased offtake by industrial units and coin makers. Traders said brisk buying by local jewellers to meet ongoing wedding season demand lifted the gold prices.

Moreover, a firm trend in global markets amid a weak dollar boosted the sentiment. Globally, gold rose by 0.04% to SGD 1,755.62 per ounce in Singapore, while in New York the metal climbed 1.18% to $1,293.40 an ounce and silver by 1.32% to Rs17.28 an ounce.

In the national capital, gold of 99.9% and 99.5% purity zoomed by Rs325 each to Rs30,775 and Rs30,625 per ten grams respectively. The precious metal had lost Rs175 in last two days.

Sovereign, however, remained flat at Rs24,700 per piece of eight grams in limited deals. Tracking gold, silver ready climbed by Rs600 to Rs41,150 per kg and weekly-based delivery by Rs560 to Rs40,150 per kg. Silver coins were flat at Rs74,000 for buying and Rs75,000 for selling of 100 pieces.

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