Marching on for the third straight day today, gold prices rose by another Rs 100 to Rs 29,250 per 10 grams at the bullion market in line with a firming trend overseas amid increased buying by local jewellers. Silver followed suit and recaptured the Rs 40,000-mark by rising Rs 150 to Rs 40,100 per kg following increased offtake by industrial units and coin makers.
Bullion traders said that apart from a global firming trend, persistent buying by local jewellers to meet ongoing wedding season demand kept gold and silver prices higher. Globally, gold rose by 0.45 per cent to USD 1,261 an ounce and silver by 0.53 per cent to USD 17.20 an ounce in Singapore.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity advanced by Rs 100 each to Rs 29,250 and Rs 29,100 per 10 grams, respectively. The precious metal had gained Rs 235 in last two days. Sovereign, however, remained flat at Rs 24,400 per piece of eight grams.
Tracking gold, silver ready hardened by Rs 150 to Rs 40,100 per kg and weekly-based delivery by Rs 170 at Rs 40,115 per kg. Silver coins too spurted by Rs 1,000 to Rs 72,000 for buying and Rs 73,000 for selling of 100 pieces.