New Delhi: Gold rose by Rs 200 to trade at
almost three-month high of Rs 30,950 per 10 gram at the
bullion market today, helped by a firm global trend and pick-
up in wedding season buying by local jewellers and retailers.
Silver also rallied by Rs 300 to trade above the Rs
40,000 per kg level on increased offtake by industrial units
and coin makers.
Bullion traders said the sentiment got a boost owing to a
firming trend overseas where gold rose to the highest since
September, as the dollar slumped to three-year lows against a
basket of currencies, raising appeal of the precious metals as
a safe haven.
Globally, gold rose 0.42 per cent to USD 1,343 an ounce
and silver by 0.90 per cent to USD 17.36 an ounce in Singapore
today.
Besides, a pick-up in buying by local jewellers to meet
wedding season demand at domestic spot market also supported
the uptick, they said.
In the national capital, gold of 99.9 per cent and 99.5
per cent purity rallied by Rs 200 each to Rs 30,950 and Rs
30,800 per 10 gram, respectively. The precious metal had
gained Rs 275 in the previous three days.
Sovereign too gained Rs 50 to trade at Rs 24,750 per
piece of eight gram.
Silver ready prices also went up by Rs 300 to Rs 40,200
per kg and weekly-based delivery by Rs 460 to Rs 39,580 per
kg.
Silver coins however remained unaltered at Rs 74,000
for buying and Rs 75,000 for selling of 100 pieces.
PTI
