Gold prices advanced by Rs 20 to Rs 26,570 per ten grams at the bullion market on Monday on increased buying by jewellers amid a firm global trend. Silver, however, met with resistance and fell by Rs 200 to Rs 36,000 per kg.
Traders said pickup in buying by jewellers and a firm global trend on safe-haven demand after Greek voters have rejected more austerity demands from creditors, influenced gold prices.
Gold in Singapore, which normally sets price trend at the domestic front, surged 0.6 per cent to $1,175.45 an ounce. In the national capital, gold of 99.9 and 99.5 per cent purity advanced by Rs 20 each to Rs 26,570 and Rs 26,420 per ten grams, respectively. It had gained Rs 50 on Saturday. Sovereign, however, continued to be traded at last level of Rs 23,300 per piece of eight gram.
On the other hand, silver ready declined by Rs 200 to Rs 36,000 per kg, while weekly-based delivery moved up by Rs 270 to Rs 35,950 on speculators buying. Silver coins, however, remained flat at Rs 54,000 for buying and Rs 55,000 for selling of 100 pieces.
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