Gold regains sheen on positive global cues, jewellers#39; buying


Gold prices climbed by Rs 165 to Rs 29,850 per 10 grams at the bullion market today, tracking a firm trend overseas amid fresh buying by local jewellers.

Silver also rebounded by Rs 440 to Rs 38,660 per kg on increased offtake by industrial units and coin makers.

Traders said apart from a firm trend overseas, pick-up in buying by local jewellers at domestic spot market, mainly pushed up gold prices.

Globally, gold rose 0.66 per cent to USD 1,274.50 an ounce and silver by 1.71 per cent to USD 16.37 an ounce in New York in yesterday’s trade.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity surged by Rs 165 each to Rs 29,850 and Rs 29,700 per 10 grams, respectively. It had shed Rs 15 yesterday.

Sovereign, however, continued to be traded at the previous level of Rs 24,500 per piece of eight grams.

Following gold, silver ready surged by Rs 440 to Rs 38,660 per kg and weekly-based delivery by Rs 405 to Rs 37,955 per kg.

Silver coins, however, remained unaltered at Rs 70,000 for buying and Rs 71,000 for selling of 100 pieces.