1. Gold gains more on global cues, jewellers’ buying

Gold gains more on global cues, jewellers’ buying

Riding on positive global cues and increased buying by jewellers at the domestic bullion market, gold continued its upward journey and rose by another Rs 210 to Rs 26,900 per 10 gram at the bullion market today.

By: | New Delhi | Updated: January 21, 2016 4:33 PM
gold rate

Riding on positive global cues and increased buying by jewellers at the domestic bullion market, gold continued its upward journey and rose by another Rs 210 to Rs 26,900 per 10 gram at the bullion market today. (Reuters photo)

Riding on positive global cues and increased buying by jewellers at the domestic bullion market, gold continued its upward journey and rose by another Rs 210 to Rs 26,900 per 10 gram at the bullion market today.

Silver followed suit and moved up by Rs 250 to Rs 34,650 per kg on increased off-take from industrial units and coin makers.

Bullion merchants attributed the gains in the precious metal to a firming trend overseas where gold extended its rally above USD 1,100 an ounce as investors seek protection from the sell-off in equities and commodities.

Globally, gold rose 0.3 per cent to USD 1,104.02 an ounce in Singapore.

Furthermore, increased buying by jewellers to meet wedding season demand supported the upside, they said.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity advanced Rs 210 each to Rs 26,900 and Rs 26,750 per 10 grams, respectively. The precious metal had gained Rs 340 yesterday.

Sovereign also edged up Rs 100 to Rs 22,500 per piece of eight grams.

Tracking gold, silver ready also jumped Rs 250 to Rs 34,650 per kg and weekly-based delivery traded higher by Rs 280 at Rs 34,640 per kg.

Silver coins too spurted Rs 1,000 to Rs 50,000 for buying and Rs 51,000 for selling of 100 pieces on uptick in wedding season demand.

Tags: Gold
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