Both the precious metals, gold and silver, prices rose in the national capital on Monday on fresh buying by stockists and jewellers on the eve of Akshaya Tritiya.

Gold rose by Rs 30 to Rs 29,070 per 10 gm and silver went up by Rs 75 to Rs 56,575 per kg on increased offtake by industrial units and jewellery makers.

Traders said buying by stockists and jewellers picked up for the ‘Akshaya Tritiya, considered to be an auspicious day in Hindu mythology for making token purchases in precious metals.

They said some demand for the ongoing marriage season and shifting of investor’s funds from stocks to bullion also supported the uptrend.

On the domestic front, gold of 99.9 and 99.5 per cent purity rose by Rs 30 each to Rs 29,070 and Rs 28,930 per 10 gm, while sovereign held steady at Rs 23,550 per piece of eight gram.

Similarly, silver ready moved up by Rs 75 to Rs 56,575 per kg and weekly-based delivery rose by Rs 100 to Rs 57,000 per kg. However, silver coins held unchanged at Rs 64,000 for buying and Rs 65,000 for selling of 100 pieces.

Keywords: bullion market

More In: Markets | Business