Home > market > stock-market-news > Gold extends gains on global cues; silver end steady

New Delhi: Continuing its rising streak for the fourth consecutive day, gold prices gained another Rs50 to trade at Rs28,730 per ten gram in Delhi bullion market on Saturday, taking positive cues from overseas markets amid persistent buying by stockists. Silver, however, held steady at Rs46,000 per kg on scattered buying by industrial units.

Traders said besides continued buying by stockists and jewellers, a firming global trend as concerns about Europe’s economy and the Middle East boosted haven demand, mainly influenced gold prices.

Gold in New York, which normally sets price trend on the domestic front, rose 0.28% to $1339.00 an ounce on Friday.

In Delhi, gold of 99.9 and 99.5% purity added another Rs50 each to Rs28,730 and Rs28,530 per ten gram respectively. It had gained Rs620 in last three sessions. Sovereign, however, remained flat at Rs24,900 per piece of eight gram in limited deals.

On the other hand, silver ready held steady at Rs46,000 per kg while weekly-based delivery declined by Rs75 to Rs46,065 per kg on lack of speculators buying support. Silver coins spurted by Rs1,000 to Rs80,000 for buying and Rs81,000 for selling of 100 pieces.

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