21 अक्टूबर 2013
Gold, silver surge on domestic demand, firm global cues
New Delhi, Oct 21. Gold prices rose further by Rs
240 to Rs 31,890 per ten gram in the national capital today
on sustained buying by stockists for the festival and marriage
season amid a firming global trend.
Silver also rebounded by Rs 850 to Rs 49,350 per kg on
increased offtake by industrial units and coin makers.
Traders said sustained buying by stockists to meet the
festive and marriage season demand mainly helped gold prices
to extend gains for the second session.
Firm global trend where gold climbed to two-week high also
supported the upsurge in both gold and silver prices, they
said.
Gold in Singapore, which normally sets price trend on the
domestic front, rose by 0.4 per cent to USD 1,322.05 an ounce
and silver by 1.6 per cent to USD 22.28 an ounce.
In addition, shifting of funds from weakening equity to
rising bullion also influenced the sentiment to some extent,
they added.
On the domestic front, gold of 99.9 and 99.5 per cent
purity climbed by Rs 240 each to Rs 31,890 and Rs 31,690 per
ten gram, respectively. It had gained Rs 150 in the previous
session.
Although, sovereign remained steady at Rs 25,200 per piece
of eight gram in limited deals.
In line with a general firm trend, silver ready rebounded
by Rs 850 to Rs 49,350 per kg and weekly-based delivery by
Rs 900 to Rs 49,100 per kg. The white metal had lost Rs 300 in
Saturday's trade.
Silver coins also spurted by Rs 1,000 to Rs 87,000 for
buying and Rs 88,000 for selling of 100 pieces on hectic
festival as well as wedding season demand.
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