Gold & Silver

Gold jumps to Rs 30,700 on wedding season demand, global cues

| | Updated on: Nov 01, 2016
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Gold made some decent recovery by rising Rs 50 to 30,700 per 10 grams at the bullion market in the national capital today, aided by increased buying by jewellers to meet wedding season demand coupled with a firm global trend.

Silver also moved up Rs 200 to Rs 43,200 per kg on higher offtake by industrial units and coin makers.

Analysts attributed the jump in gold prices to pick-up in buying by jewellers at the domestic spot market for the the ongoing wedding season amid a firm global trend.

Globally, gold rose 0.19 per cent to $1,279.40 an ounce and silver 0.42 per cent to $17.95 an ounce in Singapore.

Gold of 99.9 per cent and 99.5 per cent purity moved up by Rs 50 each to Rs 30,700 and Rs 30,550 per 10 grams, respectively.

The metal had lost Rs 100 on special ‘Diwali’ trading session on Sunday. Market had remained closed yesterday on account of Vishwakarma Puja.

Sovereign also edged up by Rs 20 to Rs 24,520 per piece of eight grams.

In line with gold, silver ready firmed up by Rs 200 to Rs 43,200 per kg and weekly-based delivery by Rs 140 to Rs 42,710 per kg.

Silver coins, however, held steady at Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces.

Published on January 15, 2018

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