Gold prices strengthened by Rs. 45 to Rs. 18,700 per ten grams in the national capital today on speculative buying, even though the metal was being traded lower in overseas markets.
Marketmen said speculative buying mainly pushed up gold prices, in spite of a dearth of demand from retail customers and jewellers at existing higher levels.
Even falling gold prices in Asia failed to influence the trading sentiment at home, they said.
Gold of 99.99 per cent and 99.5 per cent purity gained Rs. 45 each on account of speculative buying to 18,700 and Rs. 18,600 per ten grams respectively. The metal had gained Rs. 55 on Friday. Sovereigns followed suit and rose by Rs. 25 to Rs. 14,700 per piece of eight grams.
On the other hand, silver ready lacked buying support and declined by Rs. 100 to Rs. 29,050 per kg, while weekly-based delivery lost Rs. 5 to Rs. 28,865 per kg.
However, the price of silver coins held steady at Rs. 34,100 for buying and Rs. 34,200 for selling of 100 pieces.
