Gold prices jumped by Rs. 470 to Rs. 30,670 per ten gram in the national capital on Monday on brisk seasonal demand amid a firm global trend.
Silver followed suit and climbed by Rs. 405 to Rs. 45,025 per kg on increased off-take by industrial units and coins makers.
A similar trend was seen in Mumbai, as gold of 99.9 and 99.5 per cent purity traded at Rs. 30,480 and Rs. 30,330 per ten gram, while silver enquired at Rs. 45,850 per kg on fresh buying activity.
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Traders said sentiment turned bullish as stockists and retailers indulged in brisk buying for the ongoing wedding season amid a firming global trend.
Gold in overseas markets rose to a two-week high, as U.S. jobs data missed estimates and Chinese buyers returned after the Lunar New Year break.
Gold in Singapore, which normally sets price trend on the domestic front, rose by 0.7 per cent to $1,276.03 an ounce, the highest level since January 27 and silver added 0.7 per cent to $20.16 an ounce.
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On the domestic front, gold of 99.9 and 99.5 per cent purity surged by Rs. 470 each to Rs. 30,670 and Rs. 30,470 per ten gram, respectively. It had lost Rs. 340 on Saturday’s trade.
Sovereign also moved up by Rs. 50 to Rs. 25,300 per piece of eight gram.
In a similar fashion, silver ready jumped up by Rs. 405 to Rs. 45,025 per kg and weekly-based delivery by similar margin to Rs. 44,775 per kg. The white metal had shed Rs. 180 in the previous session.
On the other hand, silver coins held steady at Rs. 86,000 for buying and Rs. 87,000 for selling of 100 pieces.