Gold rises after 7 days on low level buying, global cues

  • PTI, New Delhi
  • Updated: Nov 06, 2013 16:00 IST

Snapping a seven-day long losing streak, gold prices rose by Rs 60 to Rs 31,160 per ten grams in the national Capital on Wednesday on emergence of low level buying for the wedding season amid a firm global trend.




Silver also recovered by Rs 360 to Rs 48,860 per kg on increased offtake by industrial units.



Marketmen said emergence of low level buying by stockists and retailers for the wedding season amid a firm global trend mainly helped gold prices to rebound.



Gold in London, which normally sets price trend on the domestic front, rose by $7 to $1,318.90 an ounce and silver by 1.11% to $21.95 dollar an ounce.



Some investors seen shifting their funds from weak equity market to rising bullion also influenced the sentiment, they said.



On the domestic front, gold of 99.9 and 99.5% purity rebounded by Rs 60 each to Rs 31,160 and Rs 30,960 per ten grams, respectively. It had lost Rs 1,470 in the previous seven sessions. Sovereign remained steady at Rs 25,200 per piece of eight grams.



In line with a general firm trend, silver ready recovered by Rs 360 to Rs 48,860 per kg and weekly-based delivery by Rs 260 to Rs 48,260 per kg. The white metal had lost Rs 500 yesterday.



However, silver coins maintained a steady trend at Rs 86,000 for buying and Rs 87,000 for selling of 100 pieces.

From Around the Web
Sponsored by Revcontent

also read

Dayanidhi Maran called himself PM, telecom: former TRAI chairman Baijal
Show comments

Steps to disable Ad Blocker on your browser


In order to serve content on our website, we rely on advertising revenue which helps us to ensure that we continue to serve high quality unbiased journalism. From our end, we will aim to show clean and unobtrusive ads to provide you with a great browsing experience.

Request to please follow the steps below and once done, please refresh your page.


For Chrome and Ad BlockPlus users

1.Press the ‘ABP’ icon in your toolbar at top right of this page

2. Click on ‘Enabled on this site’; this should now change to ‘Disabled on this site’


chrome



For Chrome and Ad Block users

1.Press the ‘AdBlock’ icon in your toolbar

2.Select the option ‘Don’t run on pages on this domain’ and then click ‘exclude’ on the pop up


chrome

Steps to disable Ad Blocker on your browser


In order to serve content on our website, we rely on advertising revenue which helps us to ensure that we continue to serve high quality unbiased journalism. From our end, we will aim to show clean and unobtrusive ads to provide you with a great browsing experience.

Request to please follow the steps below and once done, please refresh your page.


For Mozilla and AdBlock Plus (ABP) users

1.Press the ‘ABP’ icon in your toolbar

2.Select the option ‘Disable on hindustantimes.com’


chrome

Steps to disable Ad Blocker on your browser


In order to serve content on our website, we rely on advertising revenue which helps us to ensure that we continue to serve high quality unbiased journalism. From our end, we will aim to show clean and unobtrusive ads to provide you with a great browsing experience.

Request to please follow the steps below and once done, please refresh your page.


For Internet Explorer and AdBlock Plus users

1.Press the ‘AdBlock Plus’ icon in your status bar at the bottom of the screen

2.Select the option ‘Disable on hindustantimes.com’


chrome

Steps to disable Ad Blocker on your browser


In order to serve content on our website, we rely on advertising revenue which helps us to ensure that we continue to serve high quality unbiased journalism. From our end, we will aim to show clean and unobtrusive ads to provide you with a great browsing experience.

Request to please follow the steps below and once done, please refresh your page.


For Safari and AdBlock users

1.Press the ‘AdBlock’ icon in your toolbar

2.Select the option ‘Don't run pages on this domain’ and then click 'exclude'


chrome