Gold gains on fresh stockists buying, global cues
PTI December 27, 2013Gold prices recovered by Rs 100 to Rs 30,000 per ten grams in the national capital on Friday on fresh buying by stockists amid a firm global trend.
Silver also gained for the third straight session by surging Rs 750 to Rs 44,750 per kg on increased offtake by industrial units and coin makers.
In Mumbai, gold of 99.9 and 99.5 per cent purity fell by Rs 160 and Rs 170 to Rs 29,780 and Rs 29,630 per ten grams, respectively; while silver gained Rs 60 to Rs 44,500 per kg.
Traders said stockists buying influenced by a firm global trend, where gold traded near a one-week high, mainly boosted the sentiment here.
Gold in Singapore, which normally sets price trend on the domestic front, was trading at $1,213.39 an ounce, while silver rose by one per cent to $19.97 an ounce.
In Delhi, gold of 99.9 and 99.5 per cent purity rebounded by Rs 100 each to Rs 30,000 and Rs 29,800 per ten grams, respectively. It had lost Rs 275 on Thursday. Sovereign remained steady at Rs 25,100 per piece of eight gram in limited deals.
Silver ready surged by Rs 750 to Rs 44,750 per kg and weekly-based delivery by Rs 710 to Rs 44,830 per kg. The white metal had gained Rs 450 in the previous two sessions.
Silver coins also spurted by Rs 1,000 to Rs 85,000 for buying and Rs 86,000 for selling of 100 pieces.