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Gold price surges on firm global trend, festive buying

Traders said the yellow metal remained in demand for the ongoing festivals and marriage season. Gold of 99.9 and 99.5 per cent purity surged by Rs 575, each, to Rs 30,775 and Rs 30,575 per ten gram, respectively.

BT Online Bureau   New Delhi     Last Updated: October 14, 2013  | 00:00 IST

Gold prices jumped up by Rs 575 in the national capital on Monday, to Rs 30,775 per ten grams, on increased buying by retail customers.

Traders said the yellow metal remained in demand for the ongoing festivals and marriage season. Gold prices also traded higher amid firming global trend and the recent plunge also increased physical demand, they added.

Gold in London, which normally sets price trend on the domestic front, rose by 0.4 per cent to $1,276.66 an ounce and silver by 0.1 per cent to $21.35 an ounce.

On the national front, gold of 99.9 and 99.5 per cent purity surged by Rs 575 each to Rs 30,775 and Rs 30,575 per ten gram respectively. Sovereign advanced by Rs 100 to Rs 25,100 per piece of eight gram.

Silver ready spurted by Rs 680 to Rs 47,570 per kg and weekly-based delivery by Rs 80 to Rs 47,270 per kg. However, silver coins held steady at Rs 84,000 for buying and Rs 85,000 for selling of 100 pieces.

With inputs from PTI

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