Gold, silver extend gains

Both the precious metals, gold and silver extended gains for the second straight day in the national capital Saturday on sustained buying by retailers amid a firming global trend.

While gold added Rs 60 to Rs 30,060 per 10 gm, silver advanced by Rs 200 to Rs 55,200 per kg due to increased offtake by jewellers and industrial units.

Traders said sustained buying by retailers amid a firming global trend mainly kept both gold and silver prices higher for the second day.

Gold in New York, which normally set price trend on the domestic front, rose by $4.50 to $1581.50 an ounce and silver by 0.28 per cent to $28.76 an ounce last night.

On the domestic front, gold of 99.9 and 99.5 per cent purity added Rs 60 each at Rs 30,060 and Rs 29,860 per 10 gm. It had gained Rs 280 yesterday.

Silver ready advanced by Rs 200 to Rs 55,200 per kg while weekly-based delivery lost Rs 345 at Rs 53,655 per kg on lack of speculators support.

However, silver coins rose further by Rs 1,000 to Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.