Gold gains on increased buying, global cues

Jan 27 2014, 16:14 IST
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Gold prices added Rs 70 to Rs 30,570 per ten gram after gaining 330 in last two trade. (AP) Gold prices added Rs 70 to Rs 30,570 per ten gram after gaining 330 in last two trade. (AP)
SummaryGold prices added Rs 70 to Rs 30,570 per ten gram after gaining 330 in last two trade.

Gold rose for the third straight session by adding Rs 70 to Rs 30,570 per ten gram in the national capital today on increased buying by stockists to meet the ongoing marriage season demand amid a firming global trend.

Silver also moved up by Rs 75 to Rs 45,075 per kg on increased offtake by industrial units.

In Mumbai, gold of 99.9 and 99.5 per cent purity traded at Rs 30,300 and Rs 30,150 per ten gram, respectively, while silver enquired at Rs 45,800 per kg.

Traders said increased buying by stockists to meet the ongoing marriage season demand amid a firming global trend mainly helped gold prices to gain for the third day.

Gold in Singapore, which normally set price trend on the domestic front, rose by 0.8 per cent to 1,279.61 dollar an ounce.

Shifting of funds from weakening equities to rising bullion also raised the metal demand, they said.

On the domestic front, gold of 99.9 and 99.5 per cent purity added Rs 70 each to Rs 30,570 and Rs 30,370 per ten gram, respectively, after gaining 330 in last two trade.

Sovereign, however, remained steady at Rs 25,150 per piece of eight gram.

Silver ready rose by Rs 75 to Rs 45,075 per kg and weekly-based delivery by Rs 260 to Rs 44,950 per kg, while silver coins continued to be asked at last level of Rs 86,000 for buying and Rs 87,000 for selling of 100 pieces.

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