Gold advanced further by Rs. 130 to Rs. 30,800 per ten grams in the national capital on Tuesday on sustained buying for the ongoing marriage season amid a firming global trend.
Silver shot up by Rs. 105 to Rs. 45,130 per kg on increased offtake by jewellers and industrial units.
However, a divergent trend was noticed in Mumbai, as gold of 99.9 and 99.5 per cent purity rose for the second straight day by adding Rs. 120 each to Rs. 30,600 and Rs. 30,450 per ten grams, respectively on seasonal demand, while silver shed Rs. 50 to Rs. 45,800 per kg on lack of buying support.
Traders said frantic buying by stockists and jewellers to meet the rising ongoing marriage season demand mainly kept the precious metals higher for the second day.
They said an upsurge was further supported by firming global trend where gold rallied as investors assessed further cuts to U.S. stimulus and increased buying in China.
Gold in Singapore, which normally sets price trend on the domestic front, rose by one per cent to $1,287.81 an ounce, the highest price since November 18, and silver by 0.2 per cent to $20.11 an ounce.
At the domestic front, gold of 99.9 and 99.5 per cent purity rose by Rs. 130 each to Rs. 30,800 and Rs. 30,600 per ten grams, respectively. It had climbed Rs. 470 on Monday.
Silver coins continued to be asked at last level of Rs. 86,000 for buying and Rs. 87,000 for selling of 100 pieces.
In a similar fashion, silver ready rose by Rs. 105 to Rs. 45,130 per kg and weekly-based delivery by a similar margin to Rs. 44,880 per kg. The white metal had gained Rs. 405 in last the trading session.
However, silver coins remained steady at Rs. 86,000 for buying and Rs. 87,000 for selling of 100 pieces.
