Gold prices climbed by Rs 150 to Rs 27,925 per 10 grams in New Delhi on Tuesday as buying activity from jewellers as well as retailers picked up on the occasion of “Dhanteras” amidst a firming trend overseas.
Silver also moved up by Rs 150 to Rs 39,000 per kg on increased offtake by industrial units and coin makers.
Trading on Dhanteras, considered an auspicious day to purchase precious metals, glittered on the back of token buying activity to mark the occasion and a better trend in overseas market supported consumers’ buying spirit, bullion traders said.
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“There is an improvement in gold demand on Dhanteras as gold is quoting at lower level as compared to previous year”, said Rakesh Anand, a Delhi-based jeweller.
Last year on Dhanteras, the precious metal stood at Rs 31,400 per 10 grams.
In Delhi, gold of 99.9 and 99.5 per cent purity shot up by Rs 150 to Rs 27,925 and Rs 27,725 per 10 grams, respectively. It had gained Rs 75 on Monday.
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Sovereign, however, moved in a tight range in limited deals and settled at last level of Rs 24,300 per piece of eight grams.
Silver ready advanced by Rs 150 to Rs 39,000 per kg and weekly delivery by Rs 65 to Rs 38,715 per kg.
On the other hand, silver coins maintained a steady trend at Rs 69,000 for buying and Rs 70,000 for selling of 100 pieces on festive season demand.