Gold & Silver

Gold reclaims Rs 27K-mark on firm global cues, wedding season demand

PTI | | Updated on: Jan 22, 2018

Continuing its rising streak for the third straight day, gold today reclaimed Rs 27,000-mark by zooming Rs 400 to hit a one-month high of Rs 27,250 per 10 grams at the bullion market, tracking a firm trend overseas amid pick-up in jewellers’ buying to meet the rising wedding season demand.

Silver also retook the Rs 36,000-level by surging Rs 1,100 to Rs 36,500 per kg on increased offtake by industrial units and coin makers.

Bullion traders said besides a firm global trend, where gold soared to a one-month high, continued buying by jewellers and retailers to meet the wedding season demand largely influenced the precious metal prices.

Globally, gold climbed 2.11 per cent to $1,154.10 an ounce, its highest level since August 24, and silver 2.43 per cent to $15.15 an ounce in New York in yesterday’s trade.

Fresh weakness in the rupee against the dollar, making imports costlier, too supported the upside, they added.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity climbed Rs 400 each to Rs 27,250 and Rs 27,100 per 10 grams, respectively, a level last seen on August 25.

The precious metals had gained Rs 340 in the past two days.

Sovereign moved up by Rs 100 at Rs 22,500 per piece of eight grams.

Tracking gold, silver ready recorded a hefty rise of Rs 1,100 to Rs 36,500 per kg and weekly-based delivery by Rs 725 to Rs 36,220 per kg.

Silver coins spurted Rs 1,000 to Rs 53,000 for buying and Rs 54,000 for selling of 100 pieces.

Published on September 25, 2015
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