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Gold gains Rs 160, silver Rs 300 on fresh buying

Source : PTI
Last Updated: Tue, Sep 25, 2012 11:09 hrs
Gold biscuits are displayed inside a jewellery showroom in Hyderabad

New Delhi: Snapping a three-day losing streak, both gold and silver prices rose in the bullion market here on Tuesday on emergence of buying at lower levels for the coming wedding season amid a firm global trend.

Gold recovered by Rs 160 to Rs 32,110 per 10 grams, while silver added Rs 300 to Rs 60,700 per kg.

Traders said retailers and jewellery makers indulged in buying at attractive lower levels, following three sessions of loses, to meet the wedding season demand. A firm trend in the overseas market also influence the sentiments, they added.

In London, gold gained USD 3.70 to USD 1,768.20 an ounce and silver rose by 0.29 per cent to USD 34.07 an ounce.

Back home, gold of 99.9 and 99.5 per cent purity gained Rs 160 each to Rs 32,110 and Rs 31,910 per 10 grams, respectively. The metal has lost Rs 550 in last three trading sessions.

Sovereign followed suit and rose by Rs 50 to Rs 25,450 per piece of eight grams.

In line with a general firming trend, silver ready gained Rs 300 to Rs 60,700 and weekly-based delivery by Rs 225 to Rs 62,585 per kg.

Silver coins too traded higher by Rs 1,000 to Rs 76,000 for buying and Rs 77,000 for selling of 100 pieces.




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