Snapping its three-day losing streak, both gold and silver gained on the bullion market on Wednesday on emergence of stockists buying at existing lower levels for the upcoming marriage season amid a firm global trend.
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While gold went up by Rs 225 to Rs 28,465 per 10 grams, silver soared by Rs 800 to Rs 65,000 per kg.
Trading sentiment turned better after gold advanced in the global markets as concerns about Europe’s sovereign-debt crisis spurred demand for the metal as an alternate investment.
Gold in global markets, which normally sets the price trend on the domestic front, rose by 0.6 per cent to $ 1,844.98 an ounce in Singapore.
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In the national capital, gold of 99.9 and 99.5 per cent purity recovered by Rs 225 each to Rs 28,465 and Rs 28,315 per 10 grams. The metal had lost Rs 350 in the previous three sessions.
On the other hand, sovereign, remained stable at Rs 22,700 per piece of eight grams in limited deals.
In a similar fashion, silver ready spurted by Rs 800 to Rs 65,000 per kg and weekly-based delivery added Rs 960 to Rs 65,360 per kg.
Silver coins also jumped up by Rs 1,500 to Rs 73,000 for buying and Rs 74,000 for selling of 100 pieces.