Gold prices soared by Rs.325 to regain the Rs.30,000-mark and trade at over 4-month high of Rs.30,175 per 10 grams…
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Gold prices soared by Rs.325 to regain the Rs.30,000-mark and trade at over 4-month high of Rs.30,175 per 10 grams at the bullion market on Saturday, amid a firm overseas trend and wedding season buying by jewellers.
Gold prices had touched Rs.30,325 per 10 grams on October 18, 2016.
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Silver too followed suit and surged by Rs.600 to Rs.43,800 per kg on increased offtake by industrial units and coin makers.
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Bullion traders said sentiment got a boost after gold climbed in global markets as weakness in the dollar pushed up demand for precious metals as safe-haven.
Globally, gold rose 0.61 per cent to $1,256.90 an ounce, a level last seen in November last year, and silver rose 0.99 per cent to $18.33 an ounce in New York in yesterday's trade.
Besides, increased buying by local jewellers, triggered by ongoing wedding season demand also supported the upmove, they said.
In the national capital, gold of 99.9 and 99.5 per cent purity rose by Rs.325 each to Rs.30,175 and Rs.30,025 per 10 grams respectively, a level last seen on October 18, 2016.
Sovereign, however, remained flat at Rs.24,500 per piece of eight grams.
Following rally in gold, silver ready also registered a sharp rise of Rs.600 to Rs.43,800 per kg and weekly-based delivery recaptured the Rs.43,000-mark by rising Rs.760 to Rs.43,350 per kg.
Silver coins too spurted by Rs.1,000 to Rs.74,000 for buying and Rs.75,000 for selling of 100 pieces.
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