New Delhi: Gold today rose by Rs 25 to Rs
31,100 per ten gram, driven by positive global cues and
increased buying by local jewellers to meet wedding season
demand.
On the other hand, silver held steady at Rs 39,900 per kg
on scattered deals from industrial units and coin makers.
Bullion traders said a firm trend overseas as the US
dollar fell to a fresh three-year low, boosting demand for
gold as a safe-haven asset, mainly kept prices higher.
Globally, gold rose 0.16 per cent to USD 1,343 an ounce
and silver by 0.21 per cent to USD 17.07 an ounce in
Singapore.
Besides, persistent buying by local jewellers to meet
wedding season demand at domestic spot market, fuelled the
uptrend, they said.
In the national capital, gold of 99.9 per cent and 99.5
per cent purity gained Rs 25 each to Rs 31,100 and Rs
30,950 per ten gram, respectively.
Bullion market was closed yesterday due to 'Delhi Trade
Bandh' called by Confederation of All India Traders (CAIT)
against sealing of business establishments in the city.
Sovereign however eased by Rs 100 to Rs 24,800 per
piece of eight gram.
Silver ready ruled flat at Rs 39,900 per kg, while
weekly-based delivery fell by Rs 75 to Rs 38,940 per kg on
lack of speculators' support.
Silver coins however remained unaltered at Rs 74,000 for
buying and Rs 75,000 for selling of 100 pieces.
PTI
