Gold gains Rs 225,silver Rs 1,600 on firm global trend

Gold of 99.9 and 99.5% purity flared up by Rs 225 each to Rs 28,120 and Rs 27,980 per 10 gms.

Written by Agencies | New Delhi | Published:January 4, 2012 3:56 pm

Buoyed by a firming global trend,gold prices rose further by Rs 225 to Rs 28,120 per 10 grams,while silver rates spurted by Rs 1,600 to Rs 53,200 per kg in the bullion market here today on increased offtake.

Silver coins followed suit and jumped up by 3,000 to Rs 60,000 for buying and Rs 61,000 for selling of 100 pieces.

Traders said sustained buying by stockists and jewellers for the marriage season and reports of a rising trend in the international markets mainly pushed up both gold and silver rates.

In London,gold gained 0.6 per cent to USD 1,612.31 an ounce,its highest level since December 26. Back home,gold of 99.9 and 99.5 per cent purity flared up by Rs 225 each to Rs 28,120 and Rs 27,980 per 10 grams,respectively. It had gained Rs 255 yesterday.

Sovereigns remained stable at Rs 23,300 per piece of eight grams on restricted buying. Similarly,silver ready remained in demand from industrial units and coin makers and notched up sharp gains of Rs 1,600 to Rs 53,200 per kg and weekly-based delivery by Rs 1100 to Rs 53,100 per kg.

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