Gold rises further on seasonal demand, global cues

Last Updated: Fri, Nov 15, 2013 10:05 hrs

Amid rising wedding season demand and firm global trend, gold prices rose further by Rs 105 to Rs 31,825 per ten gram while silver remained steady at Rs 48,000 per kg in the national capital today.

Traders said pick up in gold demand for wedding season amid a firm global trend mainly helped the prices to gain further ground.

Gold in New York, which normally sets price trend on the domestic front, rose by USD 5 to USD 1587.30 an ounce.

On the domestic front, gold of 99.9 and 99.5 per cent purity advanced by Rs 105 each to Rs 31,825 and Rs 31,625 per ten gram, respectively. It had gained Rs 220 yesterday.

Sovereign, however, held steady at Rs 25,300 per piece of eight gram.

Silver ready remained steady at Rs 48,000 per kg while weekly-based delivery fell further by Rs 200 to Rs 47,000 per kg. Silver coins continued to be asked at last level of Rs 86,000 for buying and Rs 87,000 for selling of 100 pieces.

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