Gold, silver spurt on firm global cues
NEW DELHI: Both the precious metals, silver and gold spurted on the bullion market today on fresh buying support by stockists and jewellers for the ongoing marriage season, triggered by a rally in their prices overseas.
While silver jumped up by Rs 1,600 to Rs 43,300 per kg and gold by Rs 360 to Rs 20,320 per 10 grams.
Trading sentiments turned bullish as metal rebounded in global markets as a steep fall in last two sessions attracted investors to park their funds.
The gold in overseas markets, which normally sets a price trend on the domestic front here, rallied by USD 23.50 to USD 1,338.40 an ounce.
Some local buying support at existing lower levels for the ongoing marriage season also enthused the trading sentiment.
On the domestic front, gold of 99.9 and 99.5 per cent purity surged by Rs 360 each to Rs 20,320 and Rs 20,200 per 10 grams, respectively. The metal lost Rs 360 in yesterday's trade. Sovereign followed suit and recovered by Rs 50 to Rs 16,750 per piece of eight grams.
In line with a general firming trend, silver ready sky-rocketted by Rs 1,600 to Rs 43,300 per kg and weekly-based delivery by Rs 1,510 to Rs 43,000 per kg.
Silver coins also gained Rs 500 to Rs 48,500 for buying and Rs 48,600 for selling of 100 pieces.
While silver jumped up by Rs 1,600 to Rs 43,300 per kg and gold by Rs 360 to Rs 20,320 per 10 grams.
Trading sentiments turned bullish as metal rebounded in global markets as a steep fall in last two sessions attracted investors to park their funds.
The gold in overseas markets, which normally sets a price trend on the domestic front here, rallied by USD 23.50 to USD 1,338.40 an ounce.
Some local buying support at existing lower levels for the ongoing marriage season also enthused the trading sentiment.
On the domestic front, gold of 99.9 and 99.5 per cent purity surged by Rs 360 each to Rs 20,320 and Rs 20,200 per 10 grams, respectively. The metal lost Rs 360 in yesterday's trade. Sovereign followed suit and recovered by Rs 50 to Rs 16,750 per piece of eight grams.
In line with a general firming trend, silver ready sky-rocketted by Rs 1,600 to Rs 43,300 per kg and weekly-based delivery by Rs 1,510 to Rs 43,000 per kg.
Silver coins also gained Rs 500 to Rs 48,500 for buying and Rs 48,600 for selling of 100 pieces.
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