Gold & Silver

Gold climbs to Rs 29,650 on global cues, wedding demand

PTI New Delhi | Updated on January 12, 2018 Published on January 17, 2017

bullion

Continuing its upward trend for the second straight day today, gold prices rose another Rs 150 to Rs 29,650 per 10 grams at the bullion market, largely driven by positive global cues and increased buying by jewellers to meet the wedding season demand.

Silver followed suit and advanced by Rs 100 to Rs 41,400 per kg on increased offtake from industrial units and coin makers.

Bullion traders said that besides a firm trend overseas, persistent buying by local jewellers to meet the wedding season demand at the domestic spot market mainly kept gold and silver prices higher.

Globally, gold rose 0.82 per cent to $1,212.50 an ounce and silver by 1.13 per cent to $16.97 an ounce in Singapore.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity advanced by Rs 150 each to Rs 29,650 and Rs 29,500 per 10 grams, respectively. The precious metal had gained Rs 150 yesterday.

Sovereign, however, held steady at Rs 24,300 per piece of eight grams.

Tracking gold, silver ready moved up further by Rs 100 to Rs 41,400 per kg and weekly-based delivery by Rs 50 to Rs 41,270 per kg.

On the other hand, silver coins were unaltered at Rs 72,000 for buying and Rs 73,000 for selling of 100 pieces.

Published on January 17, 2017
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