Gold prices rise by Rs150 per 10 gm on second consecutive day

By Selene 0

New Delhi: Rising for the second day in a row, gold prices climbed by another Rs150 to Rs29,850 per 10 grams on Friday, tracking a firm trend overseas and increased buying by local jewellers. Silver also advanced by Rs200 to Rs43,400 per kg backed by increased offtake by industrial units and coin makers.

Marketmen said that besides a firming trend overseas, pick up in buying by local jewellers to meet wedding season demand at the domestic spot market kept the precious metals’ prices higher.

Globally, gold rose 0.44% to $ 1,238.60 an ounce and silver 0.61% to $ 18.06 an ounce in New York on Thursday.

In the national capital, gold of 99.9% and 99.5% purity rose further by Rs150 each to Rs29,850 and Rs29,700 per 10 gram, respectively.

The precious metal had gained Rs75 on Thursday. Sovereign, however, remained unaltered at Rs24,500 per piece of eight grams in limited deals.

Following gold, silver ready advanced by Rs200 to Rs43,400 per kg, while weekly-based delivery by Rs160 to Rs42,860 per kg. Silver coins, too, spurted by Rs1,000 to Rs73,000 for buying and Rs74,000 for selling of 100 pieces.

First Published: Fri, Feb 17 2017. 02 58 PM IST

Source: Livemint.com