Propped by firm global cues and increased buying by jewellers at the domestic bullion market, gold prices advanced for the second straight day on Wednesday, gaining Rs. 70 at Rs. 29,100 per 10 grams.
Silver also recaptured the Rs. 41,000-level by surging Rs. 550 to Rs. 41,300 per kg backed by increased off-take by industrial units and coin makers.
Marketmen said that besides a firming trend overseas, increased buying activity by jewellers to meet retailers’ demand ahead of wedding season at the domestic spot market kept the metal prices higher.
Globally, gold rose 0.29 per cent to $1,190.70 an ounce and silver 0.39 per cent to $16.82 an ounce in Singapore.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity added Rs. 70 each to Rs. 29,100 and Rs. 28,950 per 10 gram. The precious metal had climbed Rs. 330 yesterday.
Sovereign, however, remained flat at Rs. 24,200 per piece of eight grams.
Tracking gold, silver ready rose further by Rs. 550 to Rs. 41,300 per kg while weekly-based delivery by 545 to Rs. 41,145 per kg.
Silver coins, too, moved up by Rs. 1,000 to Rs. 72,000 for buying of 100 pieces, and Rs. 73,000 for selling.
