Gold, silver up on stockists buying, global cues

New Delhi, May 6. Both the precious metals, gold and silver, rose in the national capital today on fresh buying by stockists to meet the ongoing marriage season demand amid a firm global trend. While gold rose by Rs 120 to Rs 27,870 per 10 grams, silver gained Rs 200 to Rs 46,200 per kg on increased offtake by jewellers and industrial units. Traders said fresh buying by stockists to meet the ongoing marriage season demand mainly led to rise in both gold and silver prices. Firm global trend where gold climbed to a highest level since April 15 on rise in physical buying and investors increased holdings also supported the uptrend, they said. Gold in Singapore, which normally sets the price trend on the domestic front, rose by 0.6 per cent to USD 1,479.08 an ounce and silver by 1.4 per cent to USD 24.45 an ounce. On the domestic front, gold of 99.9 and 99.5 per cent purity rose by Rs 120 each to Rs 27,870 and Rs 27,670 per 10 grams, respectively, while sovereigns gained Rs 200 to Rs 24,200 per piece of eight grams. With the general firming trend, silver ready moved up by Rs 200 to Rs 46,200 per kg and weekly-based delivery by Rs 155 to Rs 45,315 per kg. Silver coins, however, held steady at Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.