Gold, silver shine in Diwali trade on jewellers buying

Extending its gains for the third straight day, gold prices advanced by Rs 15 to Rs 26,250 per ten grams in special 'Diwali Muhurat' trading at the bullion market on Wednesday on increased buying by jewellers, driven by the ongoing festive season.

Token buying activity on the auspicious occasion of Diwali and to mark the beginning of Hindu Samvat Year 2072 also supported the upside, traders said.

Silver also edged up by Rs 25 to Rs 34,900 per kg on increased offtake by industrial units and coin makers.

Gold of 99.9 and 99.5 per cent purity rose further by Rs 15 each to Rs 26,250 and Rs 26,100 per ten grams respectively.

It had gained Rs 125 in the previous two sessions.

Sovereign, however, held steady at Rs 22,300 per piece of eight gram.

Globally, gold slipped 0.2 per cent to USD 1,087.70 an ounce in London.

In a similar fashion, silver ready rose by Rs 25 to Rs 34,900 per kg, while weekly-based delivery fell by Rs 250 to Rs 34,270 per kg.

Meanwhile, silver coins held steady at Rs 48,000 for buying and Rs 49,000 for selling of 100 pieces.