Gold & Silver

Gold rises to Rs 28,630 on firm global cues, spot demand

PTI New Delhi | Updated on January 11, 2018 Published on May 15, 2017

gold

Gold climbed for the third straight day by gaining Rs 55 to Rs 28,630 per 10 grams, reflecting a firm overseas trend amid buying by local jewellers.

However, silver came down by Rs 100 to Rs 38,500 per kg due to lower offtake.

According to bullion traders, sustained buying by local jewellers at the domestic spot market mainly kept gold prices elevated.

Globally, gold rose 0.32 per cent to $1,231.60 an ounce in Singapore.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity edged up further by Rs 55 each to Rs 28,630 and Rs 28,480 per 10 grams, respectively. The precious metal had gone up Rs 175 over the previous two days.

Sovereign also firmed up by Rs 100 at Rs 24,400 per piece of eight grams.

On the other hand, silver ready softened by Rs 100 to Rs 38,500 per kg, while weekly-based delivery surged by Rs 295 to Rs 38,450 per kg on speculative buying.

Meanwhile, silver coins remained flat at Rs 69,000 for buying and Rs 70,000 for selling of 100 pieces.

Published on May 15, 2017
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