Gold prices firm up on global cues, jewellers’ buying
In New Delhi, gold of 99.9% and 99.5% purity added Rs100 each to Rs29,975 and Rs29,825 per 10 gram, respectively. Photo: Mint
New Delhi: Gold prices rallied by Rs100 to Rs29,975 per 10 gram at the bullion market on Tuesday on the back of positive global cues amid increased buying by local jewellers. Silver prices followed suit and advanced by Rs170 to Rs38,870 per kg due to increased offtake by industrial units and coin makers.
Market analysts said a firm trend overseas where gold hit a more than three-week high in low-volume trade amid a weaker dollar mainly kept the precious metals higher.Besides, persistent buying by local jewellers at the domestic spot market supported the upside, they said.
Globally, gold rates rose 0.28% at $1,278.10 an ounce and silver by 0.27% at $16.42 an ounce in Singapore.
In the national capital, gold of 99.9% and 99.5% purity added Rs100 each to Rs29,975 and Rs29,825 per 10 gram, respectively. It had gained Rs190 in the previous two sessions. Sovereign also traded higher by Rs100 to Rs24,600 per piece of eight gram.
Tracking gold, silver ready rose by Rs170 to Rs38,870 per kg and weekly-based delivery by Rs140 to Rs38,095 per kg. Silver coins however held steady at Rs71,000 for buying and Rs72,000 for selling of 100 pieces.