Gold prices gains on firming global trend

New Delhi, May 29 Gold prices gained Rs 100 to Rs 27,050 per ten gram here today on the back of firming global trend. On the other hand, silver lost Rs 60 to Rs 43,940 per kg on lack of follow up support. Traders said gold prices rose on fresh buying by retailers and stockists, driven by a firming global trend, where the metal rose as lower prices lured some investors. Gold in Singapore, which normally set price trend in domestic markets here, climbed 0.7 per cent to USD 1,390.30 an ounce after losing 1.5 per cent yesterday. Traders said silver remained weak on lack of necessary follow up support from industrial units and coin makers as the metal in overseas markets recorded its fourth consecutive monthly loss, the worst run since June. In the national capital, gold of 99.9 and 99.5 per cent purity rose by Rs 10 each to Rs 27,050 and Rs 26,850 per ten gram, respectively. Sovereign held unchanged at Rs 23,700 per piece of eight gram. However, silver ready lost Rs 50 to Rs 43,940 per kg and weekly-based delivery by Rs 150 to Rs 43,210 per kg on reduced offtake by speculators. Silver coins continued to be asked at last level of Rs 76,000 for buying and Rs 77,000 for selling of 100 pieces.