Gold & Silver

Gold rises to Rs 29,850 on firm global cues, spot demand

PTI New Delhi | Updated on January 13, 2018 Published on February 17, 2017

gold

Rising for the second day in a row, gold prices climbed by another Rs 150 to Rs 29,850 per 10 grams today, tracking a firm trend overseas and increased buying by local jewellers.

Silver also advanced by Rs 200 to Rs 43,400 per kg backed by increased offtake by industrial units and coin makers.

Marketmen said that besides a firm trend overseas, pick-up in buying by local jewellers to meet the wedding season demand at the domestic spot market kept the precious metals’ prices higher.

Globally, gold rose 0.44 per cent to $1,238.60 an ounce and silver 0.61 per cent to $18.06 an ounce in New York yesterday.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity rose Rs 150 each to Rs 29,850 and Rs 29,700 per 10 gram, respectively. The precious metal had gained Rs 75 yesterday.

Sovereign, however, remained unaltered at Rs 24,500 per piece of eight grams in limited deals.

Following gold, silver ready advanced by Rs 200 to Rs 43,400 per kg, while weekly-based delivery by 160 to Rs 42,860 per kg.

Silver coins, too, spurted by Rs 1,000 to Rs 73,000 for buying and Rs 74,000 for selling of 100 pieces

Published on February 17, 2017
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