Gold hits a new high at Rs 30,570 while silver falls by Rs 970 to Rs. 54,730 per kg

Riding high on strong demand for the wedding season, coupled with a firming trend in the global market, gold touched yet another record high of Rs 30,570 per 10 grams in the bullion market in Delhi today.

Gold has gained Rs 1,050 in the last five trading sessions. On the other hand, silver lacked necessary follow up support at prevailing higher levels and fell by Rs 970 to Rs 54,730 per kg.

Traders said, besides purchases made by retail customers and jewellery-makers for the wedding season, strong global cues too pushed the metal’s prices up.

The metal rose in global markets on speculation that central banks from major economies may take more steps to buoy growth as Greece prepares for elections that may determine whether the country leaves the euro-zone. In Singapore, gold gained 0.2 per cent to USD 1,626.77 an ounce.

On the domestic front, gold of 99.9 and 99.5 per cent purity rose by Rs 20 to Rs 30,570 and Rs 30,370 per 10 grams, respectively. However, silver ready shed Rs 970 to Rs 54,730 per kg and weekly-based delivery fell by Rs 40 to Rs 55,200 per kg.

Meanwhile, silver coins continued to be asked at previous levels of Rs 65,000 for buying and Rs 66,000 for selling of 100 pieces.

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