Gold prices up on local demand, global gains
New Delhi: Gold prices advanced by Rs30 to Rs30,650 per 10 grams at the bullion market on Friday following a firm trend overseas along with increased buying by local jewellers. Silver prices also gained Rs120 to Rs39,800 per kg due to pick up in demand from industrial units and coin makers.
Traders said sentiment remained firm on the back of positive global cues as the weakness in dollar boosted demand for the precious metals as a safe haven. Globally, gold rate rose 0.54% to $1,329.10 an ounce and silver by 0.77% to $17.09 an ounce in Singapore.
In the national capital, gold of 99.9% and 99.5% purity edged up by another Rs30 each to Rs30,650 and Rs30,500 per 10 grams, respectively. The precious metal had gained Rs145 on Thursday. Sovereign, however, remained unaltered at Rs24,700 per piece of eight grams in limited deals.
Silver ready rose further by Rs120 to Rs39,800 per kg and weekly-based delivery by Rs90 to Rs39,080 per kg. Silver coins, however, held steady at Rs73,000 for buying and Rs74,000 for selling of 100 pieces.