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Gold prices inched up by Rs 5 to Rs 31,880 per 10 grams at the bullion market today, halting its two-day slide due to buying by local jewellers amid a firm trend overseas. Silver also reclaimed the Rs 41,000-mark by surging Rs 340 to Rs 41,100 per kg on the back of increased offtake by industrial units and coin makers.
Traders attributed the rise in gold prices to fresh buying by local jewellers at the domestic spot market and a firm trend overseas. Globally, gold rose 0.18 per cent to $1,294.50 an ounce and silver by 0.39 per cent to $16.56 an ounce in Singapore.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity rose Rs 5 each to Rs 31,880 and Rs 31,730 per 10 grams, respectively. The yellow metal had lost Rs 115 in the last two days. Sovereign, however, remained flat at Rs 24,800 per piece of eight grams.
Silver ready surged by Rs 340 to Rs 41,100 per kg, while weekly-based delivery climbed by Rs 360 to Rs 40,305 per kg. In line with the overall trend, silver coins spurted by Rs 1,000 to Rs 76,000 for buying and Rs 77,000 for selling of 100 pieces.
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