Gold Silver Reports (GSR) — Gold Prices Maintain Uptrend on Jewellers’ Buying – Traders said that continued buying by local jewellers in the ongoing wedding season and a firm trend overseas mainly kept the precious metal’s prices elevated.
Rising for the sixth straight day, gold prices spurted Rs100 to a two-week high of Rs32,400 per 10 grams at the bullion market on Friday on persistent buying by local jewellers amid a firm trend overseas.
Silver too recaptured the Rs41,000-mark by surging Rs330 to Rs41,100 per kg backed by increased offtake by industrial units and coin makers.
Globally, gold rate rose 0.01% to $1,321.30 an ounce as dollar eased against a basket of currencies after weaker-than-expected US inflation data. Silver also moved up by 0.03% to $16.69 an ounce in Singapore.
In the national capital, gold of 99.9% and 99.5% purity advanced by Rs100 each to Rs32,400 and Rs32,250 per 10 grams, respectively, a level last seen on 25 April. The yellow metal had gained Rs320 in the previous five sessions. Sovereign, however, held steady at Rs24,800 per piece of eight grams.
In line with gold, silver ready shot up by Rs330 to Rs41,100 per kg and weekly-based delivery rose by a similar margin to Rs40,400 per kg. Silver coins, however, ruled flat at Rs75,000 for buying and Rs76,000 for selling of 100 pieces. – Neal Bhai Reports
