Both silver and gold prices rose on the bullion market today on brisk buying by stockists and jewellers to meet the ongoing marriage season demand amid firm global cues.
While silver surged by Rs. 400 to Rs. 45,300 per kg on increased offtake by industrial units, gold gained Rs. 30 to Rs. 20,370 per 10 grams.
Trading sentiment turned bullish as stockists and jewellery manufacturers enlarged their positions to meet the ongoing marriage season demand.
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A firm trend in the overseas markets, which normally sets the price trend on the domestic front, supported the upward march.
In global markets gold gained 0.4 per cent to $ 1,356.35 an ounce.
Beside, shifting of funds from weak equities to rising bullion also bolstered the trading sentiment.
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In the domestic market, silver ready advanced by Rs. 400 to Rs. 45,300 per kg and weekly-based delivery by Rs. 75 to Rs. 44,650 per kg.
It had gained Rs. 100 in the previous session.
Silver coins also moved up by Rs. 400 to Rs. 49,200 for buying and Rs. 49,300 for selling of 100 pieces.
In line with a general firm trend, gold of 99.9 and 99.5 per cent purity rose by Rs. 30 each to Rs. 20,370 and Rs. 20,250 per 10 grams, respectively. Sovereign traded higher by Rs. 50 to Rs. 16,850 per piece of eight grams.