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Gold glitters on global cues, jewellers' buying
Gold prices spurted by Rs 255 to Rs 30,390 per 10 grams at the bullion market today riding on firm global cues and wedding season buying by local jewellers.
Silver also staged a recovery, climbing Rs 650 to Rs 40,700 per kg on increased offtake by industrial units and coin makers.
Sentiment got a boost after gold extended gains overseas as geopolitical risks drove investors to safe-haven assets, traders said.
Besides, a weaker US dollar against the major basket of currencies and pick-up in buying by local jewellers to meet wedding season demand at domestic spot markets fuelled the uptrend, they added.
Globally, gold surged 0.95 per cent higher at USD 1,281.50 an ounce and silver rose 2.38 per cent to USD 17.20 an ounce in New York yesterday.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity went up by Rs 255 to Rs 30,390 and Rs 30,240 per ten grams respectively. The precious metal had lost Rs 115 in yesterday's trade.
Sovereign, however, remained flat at Rs 24,700 per piece of eight grams in limited deals.
Tracking gold, silver ready climbed by Rs 650 to Rs 40,700 per kg and weekly-based delivery by Rs 690 to Rs 39,825 per kg.
Silver coins too flared up by Rs 1,000 to Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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