Gold, silver gain on fresh stockists buying, global cues

New Delhi, Jul 19. Both the precious metals, gold and silver gained in the national capital today on fresh buying by stockists amid a firm global trend. While gold surged by Rs 275 to Rs 27,300 per ten grams, silver gained Rs 295 to Rs 40,730 per kg on increased offtake by jewellers and industrial units. Sentiments bolstered after gold surged to a three-week high in global markets as Federal Reserve Chairman’s comments that stimulus may be maintained spurred demand for the metal. Gold in London, which normally set price trend on the domestic front, added 0.3 per cent to USD 1,287.69 an ounce. On the domestic front, gold of 99.9 and 99.5 per cent purity zoomed up by Rs 275 each to Rs 27,300 and Rs 27,100 per ten grams, respectively. Sovereign followed suit and went up by Rs 50 to Rs 24,250 per piece of eight gram. In line with a general firm trend, silver ready rose by Rs 295 to Rs 40,730 per kg and weekly-based delivery by Rs 355 to Rs 40,590 per kg, respectively. However, silver coins continued to be asked around previous level of Rs 79,000 for buying and Rs 80,000 for selling of 100 pieces.