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Gold up Rs 40, silver Rs 950 on wedding season demand

Source : PTI
Last Updated: Tue, Oct 09, 2012 10:43 hrs
Gold Bullion from the American Precious Metals Exchange (APMEX) is seen in New York

New Delhi: Both gold and silver rose in the bullion market here on Tuesday on emergence of buying at existing lower levels for the coming wedding season.

Gold gained Rs 40 to 31,520 per 10 grams, while silver spurted by Rs 950 to Rs 61,640 per kg on increased offtake by jewellers and industrial units.

Traders said fresh buying at prevailing lower levels to meet the demand for coming wedding season mainly pushed the prices of both gold and silver.

In the national capital, gold of 99.9 and 99.5 per cent purity recovered by Rs 40 each to Rs 31,520 and Rs 31,320 per 10 grams, respectively.

Sovereign remained steady at Rs 25,400 per piece of eight grams.

Silver ready spurted by Rs 950 to Rs 61,450 per kg, while weekly-based delivery declined by Rs 400 to Rs 60,800 per kg on lack of speculators support.

However, silver coins continued to be asked around previous level of Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.




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