Gold, silver rise on global cues

Last Updated: Fri, Jun 06, 2014 10:32 hrs

Gold prices rose by Rs 70 to Rs 27,250 per ten gram in the national capital on Friday on increased buying by stockists, taking positive cues from the global markets.

Silver prices also spurted by Rs 500 to Rs 41,000 per kg on increased offtake by industrial units and coin makers.

Traders said increased buying by stockists in line with a firm global trend, as investors awaited the US jobs report and the impact on the monetary stimulus, mainly boosted the sentiment.

Gold in Singapore, which normally sets price trend on the domestic front, traded at USD 1,255.86 an ounce from USD 1,253.63 yesterday. Silver also moved up by 0.4 per cent to USD 19.12 an ounce.

In Delhi, gold of 99.9 and 99.5 per cent purity moved up by Rs 70 each to Rs 27,250 and Rs 27,050 per ten gram, respectively; while sovereign remained flat at Rs 24,400 per piece of 8 gram in limited deals.

In line with a general firm trend, silver ready rose by Rs 500 to Rs 41,000 per kg and weekly-based delivery by Rs 475 to Rs 40,275 per kg.

On the other hand, silver coins continued to be enquired at last level of Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces in restricted deals.

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