Gold regains Rs. 17k level on fresh buying

An undated handout picture showing a 6,500-year-old gold jewel that was picked up in a northern Greek field by a hiker who handed it over to the authorities, an archaeologist said in the northern Greek port city of Thessaloniki. File photo: AP.

Gold prices regained the Rs. 17,000—level in the national capital today on fresh buying by stockists and jewellery fabricators amid pick up in demand.

The precious metal, which dipped below Rs. 17,000 level four days ago, today rose by Rs. 80 to trade at Rs. 17,040 per 10 gram on fresh buying for festivals like Christmas and New Year celebrations.

Marketmen said stockists and jewellery fabricators indulging in enlarging their positions on pick up in demand mainly pushed up both bullion prices.

Standard gold and ornaments rose by Rs. 80 each to Rs. 17,040 and Rs. 16,890 per ten gram respectively while sovereign held unchanged at Rs. 14,000 per piece of eight gram.

Silver ready and weekly based delivery also gained Rs. 100 each at Rs. 27,900 and Rs. 27,500 per kg.

However, silver coins continued to be traded around previous levels of Rs. 33,400 for buying and Rs. 33,500 for selling of 100 pieces.