Both gold and silver maintained their upward march for the third straight day in the bullion market here on Wednesday on persistent buying by stockists and investors, driven by a rising global trend.
While gold advanced by Rs 75 to Rs 27,190 per 10 grams, silver added Rs 700 to Rs 54,600 per kg on increased offtake by industrial units and jewellers for the festive season.
Trading sentiment remained firm as gold gained $13.17 to $1,675.57 an ounce in London after concerns over Europe’s debt woes spurred the demand for the metal as a protection of wealth.
Silver followed suit and added 0.9 per cent to $32.35 an ounce in London.
Besides, the upcoming Diwali festival boosted the demand for the precious metals along with the demand for the approaching wedding season.
On the domestic front, gold of 99.9 and 99.5 per cent purity added Rs 75 each to Rs 27,190 and Rs 27,050 per 10 grams. The metal gained Rs 455 in last two trading sessions.
However, sovereigns held steady at Rs 22,000 per piece of eight grams.
Similarly, silver ready spurted by Rs 700 to Rs 54,600 per kg and weekly-based delivery by Rs 950 to Rs 54,150 per kg.
Silver coins also zoomed by Rs 3,000 to Rs 64,000 for buying and Rs 65,000 for selling of 100 pieces on account of festival demand.
Keywords: bullion rates