Rising for the second straight day, gold prices gained ₹50 to ₹29,150 per 10 grams at the bullion market today on firm trend overseas and sustained buying by local jewellers.
Silver also recovered by ₹350 to ₹39,950 per kg, backed by increased offtake by industrial units and coin makers.
Minutes from the Federal Reserve’s last meeting pointed to a June rate hike, which weakened the dollar and raised appeal for the precious metals, brokers said.
Globally, gold surged 0.63 per cent to end at USD 1,258.60 an ounce while silver rose 0.97 per cent to 17.22 an ounce in New York in yesterday’s trade.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity rose ₹50 each to ₹29,150 and ₹29,000 per 10 grams, respectively. The metal had gained ₹185 yesterday.
Sovereign, however, remained unaltered at ₹24,400 per piece of eight grams.
Following gold, silver ready rebounded by ₹350 to ₹39,950 per kg and weekly-based delivery gained ₹435 to ₹39,945 per kg.
Silver coins, however, continued to be traded at the previous level of ₹71,000 for buying and ₹72,000 for selling of 100 pieces.
