Gold, silver rise on fresh buying, global cues

July 09, 2014 03:35 pm | Updated 03:35 pm IST - New Delhi

A gold ornament on display at a jewellery showroom in Kochi. A file photo: K. K. Mustafah.

A gold ornament on display at a jewellery showroom in Kochi. A file photo: K. K. Mustafah.

Gold prices rose by Rs 65 to Rs 28,125 per ten gram in the national capital on Wednesday on fresh buying by jewellers and retailers, tracking a firm global trend.

Silver also moved up by Rs 200 to Rs 45,100 per kg on increased offtake by industrial units and coin makers.

Traders said besides fresh buying by jewellers and retailers, firm global trend as a drop in equities and the dollar spurred demand for an alternative investment mainly boosted the sentiment.

Gold in London, which normally sets price trend on the domestic front, rose by 0.5 per cent to $ 1,326.18 an ounce, the highest since July 3, and silver by 0.5 per cent to $ 21.14 an ounce.

In Delhi, gold of 99.9 and 99.5 per cent purity rose by Rs 65 each to Rs 28,125 and Rs 27,925 per ten gram, respectively. Sovereign followed suit and traded higher by Rs 100 to Rs 24,900 per piece of eight gram.

In a similar fashion, silver ready went up by Rs 200 to Rs 45,100 per kg and weekly-based delivery by Rs 210 to Rs 44,935 per kg. Silver coins, however, remained steady at Rs 79,000 for buying and Rs 80,000 for selling of 100 pieces.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.