Gold prices up on jewellers buying, overseas cues
Gold prices ticked up by Rs 25 to Rs 30,125 per 10 grams in the bullion market today on scattered buying by jewellers driven by the ongoing wedding season amid firm global cues. However, silver eased Rs 60 to Rs 41,040 per kg on lack of buying support from industrial units and coin makers.
Traders said buying by jewellers to meet ongoing wedding season demand and a rising trend in the global market mainly led to the rise in gold prices. Globally, gold rose 0.16 per cent to $1,279.70 an ounce in London. In the national capital, gold of 99.9 per cent and 99.5 per cent purity inched up by Rs 25 each to Rs 30,125 and Rs 29,975 per 10 grams, respectively.
Sovereign, however, held steady at Rs 23,300 per piece of eight grams in scattered deals. On the other hand, silver ready weakened by Rs 60 to Rs 41,040 per kg while weekly-based delivery jumped by Rs 450 to Rs 41,330 per kg on speculators' buying. Silver coins, however, remained unchanged at Rs 69,000 for buying and Rs 70,000 for selling of 100 pieces.