Both silver and gold rose in the bullion market today on fresh buying by stockists and jewellery makers to meet the ongoing marriage season demand amid firm global cues.
While gold gained Rs 70 to Rs 20,820 per ten grams, silver rose by Rs 250 to Rs 44,250 per kg.
Trading sentiment remained bullish on sustained buying in gold in the wake of the current marriage season while silver edged up on industrial units buying.
A firm trend in global markets, after the metals fell from record boosted buying interest. Moreover, concern about Europe’s debt woes spurred demand for protection of wealth and fuelled the uptrend.
Gold in overseas markets, which sets the price trend on the domestic front, gained 0.4 per cent to USD 1,392 an ounce.
The metal was down 1.6 per cent this week from its record level of USD 1,431.25, hit on December 7.
Silver also rose by 0.9 per cent to USD 28.96 an ounce.
On the domestic front, the gold of 99.9 per cent purity rose by Rs 70 to Rs 20,820 per ten grams and 99.5 per cent purity by Rs 20 to Rs 20,700 per ten grams. Sovereign held unchanged at Rs 16,750 per piece of eight grams.
Silver ready jumped up by Rs 250 to Rs 44,250 per kg and weekly-based delivery by Rs 450 to Rs 43,850 per kg. Silver coins rose by Rs 500 to Rs 49,000 for buying and Rs 49,500 for selling of 100 pieces.
