Gold remained higher by adding another Rs. 70 to Rs. 27,550 per ten grams at the bullion market on Tuesday mostly on persistent buying by jewellers and retailers to meet seasonal demand amid a firming global trend.
Silver followed suit and gained Rs. 200 to Rs. 37,450 per kg on increased offtake by industrial units and coin makers.
Traders said increased buying by jewellers and retailers to meet wedding season demand mainly kept precious metal higher.
Besides, firming global trend where gold extended gains to the highest level in almost three months, also buoyed the sentiment.
Gold in Singapore, which normally sets price trend on the domestic front, rose by 0.5 per cent, to USD 1,239.34 an ounce, the highest price since October 23 and silver by 1.7 per cent to USD 16.85 an ounce, the highest level since December 15.
In the national capital, gold of 99.9 and 99.5 per cent purity advanced by Rs. 70 each to Rs. 27,550 and Rs. 27,350 per ten gram respectively, while sovereign held steady at Rs. 23,800 per piece of eight gram in restricted buying.
In a similar fashion, silver ready rose further by Rs. 200 to Rs. 37,450 per kg and weekly-based delivery by Rs. 145 to Rs. 37,390 per kg.
Silver coins spurted by Rs. 1,000 to Rs. 62,000 for buying and Rs. 63,000 for selling of 100 pieces.
