Gold gains on stockists buying, firming global trend

Last Updated: Fri, May 31, 2013 10:29 hrs

New Delhi: Prices of both gold and silver surged in the national capital on Friday on increased stockists buying and a firming global trend.

While gold prices spurted by Rs 310 to Rs 27,790 per ten gram, silver gained Rs 500 to touch Rs 45,100 per kg.

Buying activity gathered momentum on stockists buying, driven by reports that the metal climbed to a two-week high on speculation that the US Federal Reserve will maintain record stimulus to bolster growth.

Gold in Singapore, which normally set price trend on the domestic front, gained 0.6 per cent to USD 1,422.10 an ounce.

In the national capital, gold of 99.9 and 99.5 per cent purity shot-up by Rs 310 each to Rs 27,790 and Rs 27590 per ten gram, respectively.

Sovereign also rose by Rs 100 to Rs 23,900 per piece of eight gram.

Silver ready surged by Rs 500 to Rs 45,100 per kg and weekly-based delivery by Rs 740 to Rs 44,560 per kg on sustained buying by speculators.

Silver coins rose by Rs 100 to Rs 77,000 for buying and Rs 78,000 for selling of 100 pieces.

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