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Gold, silver prices rebound on demand pick-up, global cues

Gold, silver prices rebound on demand pick-up, global cues

Bullion merchants said increased buying by jewellers to meet rising demand amid a firm global trend mainly boosted the sentiment.

Photo: Reuters Photo: Reuters

Gold prices rose by Rs 100 to Rs 26,550 per 10 grams at the bullion market on Tuesday on increased buying by jewellers and retailers amid a firm global trend.

Silver also moved up by Rs 200 to Rs 37,800 per kg on increased offtake by industrial units and coin makers.

Bullion merchants said increased buying by jewellers to meet rising demand amid a firm global trend mainly boosted the sentiment.

Gold in New York, which normally sets price trend on the domestic front, rose by 0.58 per cent to $1,189.30 an ounce and silver by 1.49 per cent to $16.98 an ounce in Monday's trade.

In the national capital, gold of 99.9 and 99.5 per cent purity shot up by Rs 100 each to Rs 26,550 and Rs 26,400 per 10 grams, respectively.

Sovereign, however, held steady at Rs 23,600 per piece of eight grams.

In a similar fashion, silver ready rose by Rs 200 to Rs 37,800 per kg and weekly-based delivery by Rs 360 to Rs 37,780 per kg.

Silver coins also spurted by Rs 1,000 to Rs 56,000 for buying and Rs 57,000 for selling of 100 pieces.