Gold, Silver Prices Extend Gains on Strong Global Cues


Gold, Silver Prices Extend Gains on Strong Global Cues

New Delhi: Gold prices surged 365 to 27,415 per ten grams in the national capital on sustained buying by stockists and a firm global trend.

Silver followed suit and gained 580 to 44,880 per kg on increased offtake by industrial units and coin makers.

Traders said sentiment remained firm as gold rose in global markets. Buying by central banks and signs of increased physical demand also countered outflows in investor holdings.

Gold in Singapore, which normally set price trend on the domestic front, gained 0.5 per cent to $1,393.63 an ounce and silver by 0.9 per cent to $22.58 an ounce.

On the domestic front, gold of 99.9 and 99.5 per cent purity surged by 365 each to 27,415 and 27,215 per ten grams, respectively.

The yellow metal had gained 100 in the previous session. Sovereign followed suit and rose by 100 to 23,800 per piece of eight grams.

In line with a general firm trend, silver ready advanced by 580 to 44,880 per kg and weekly-based delivery by 120 to 43,595 per kg. The white metal had gained 300 in last two sessions.

Silver coins also spurted by 1,000 to 76,000 for buying and 77,000 for selling of 100 pieces.

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Source: PTI