Gold, silver scale higher on festive mood
Gold added to its sparkle as the price surged Rs 215 to Rs 30,715 per 10 grams today following increased buying activity driven by the ongoing festive season.business Updated: Oct 26, 2016 16:02 IST
Gold added to its sparkle as the price surged Rs 215 to Rs 30,715 per 10 grams today following increased buying activity driven by the ongoing festive and wedding season demand amid a rising overseas trend.
In line with gold, silver jumped Rs 100 to Rs 43,000 per kg on increased off-take by coin makers and other consuming industries.
Sentiment, bullion merchants said, continued to remain firm on pick-up in demand from jewellers and retailers in view of the current festive and wedding season.
Additionally, a firm trend in the global market prompted more consumers to buy.
Globally, gold climbed 0.16 per cent to USD 1,275.10 an ounce in Singapore.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity climbed Rs 215 each to Rs 30,715 and Rs 30,565 per 10 grams, respectively. It had gained Rs 85 yesterday.
Sovereign moved up Rs 100 to Rs 24,500 per piece of eight grams.
Silver ready strengthened Rs 100 to Rs 43,000 per kg while weekly delivery fell Rs 210 to Rs 42,490.
Silver coins spurted by Rs 1,000 at Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces.