Gold price extends gains on stockists buying, global cues

Jun 11 2014, 16:12 IST
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SummaryGold extended gains for the second straight day with prices rising by Rs 45 to Rs 27,230 per 10 grams...

Gold extended gains for the second straight day with prices rising by Rs 45 to Rs 27,230 per 10 grams in the national capital today on increased buying by stockists and retailers amid a firming global trend.

Silver also gained Rs 300 to Rs 41,300 per kg.

Sentiments turned better on the back of increased buying by stockists and retailers amid a firming global trend where gold rose to an almost two-week high as recent fall in prices spurred physical purchases, traders said.

Gold in Singapore, which normally sets price trend on the domestic front, edged higher by 0.2 per cent to USD 1,262.69 an ounce and silver by 0.1 per cent to USD 19.21 an ounce.

In Delhi, gold of 99.9 and 99.5 per cent advanced by Rs 45 to Rs 27,230 and Rs 27,030 per 10 grams, respectively. It had gained Rs 85 yesterday.

Sovereign remained steady at Rs 24,400 per piece of eight grams in restricted activity.

Similarly, silver ready gained Rs 300 to Rs 41,300 per kg, while weekly-based delivery lost Rs 195 at Rs 40,620 per kg.

The white metal had gained Rs 375 in last two days.

Silver coins, however, remained unchanged at Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.

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