Gold Surge in Special Diwali Trade
New Delhi: A token buying by retail customers amid firming global trend on the auspicious occasion of Diwali on Wednesday lifted the gold prices by 
730 to 27,890 per ten grams in the national capital. Similarly, silver spurted by Rs 2300 to Rs 56,000 per kg on increased off take by industrial
units and rising demand from coins manufacturers.
Sentiment turned bullish on pick up in demand on Diwali, considered to be an auspicious occasion in Hindu mythology for making fresh purchases in precious metals, amid a firming trend in global markets.
Traders said the market flooded with retail customers making traditional purchases in jewellery and silver coins for 'Lakshmi' puja.
They said the volume of business picked up even as the market opened for a special session of two-hour before the puja ceremony to open new account books.
In addition, the gold in overseas markets which set price trend in domestic front here, climbed above 1,700 dollar an ounce to its highest level in a month as concerns about Europe's debt crisis spurred demand for the metal as a protection of wealth.
On the domestic front, gold of 99.9 and 99.5 percent purity surged by 730 to 27,890 and 27,750 per ten grams respectively. Sovereign also moved up by 200 to 22,200 per piece of eight gram.
In similar fashion, silver ready spurted by 2300 to 56,000 per kg and weekly-based delivery by 2200 to 55,500 per kg respectively. Silver coins jumped up by Rs 2000 to 65,000 for buying and 66,000 for selling of 100 pieces.
Source: PTI
730 to 27,890 per ten grams in the national capital. Similarly, silver spurted by Rs 2300 to Rs 56,000 per kg on increased off take by industrial
units and rising demand from coins manufacturers.
Sentiment turned bullish on pick up in demand on Diwali, considered to be an auspicious occasion in Hindu mythology for making fresh purchases in precious metals, amid a firming trend in global markets.
Traders said the market flooded with retail customers making traditional purchases in jewellery and silver coins for 'Lakshmi' puja.
They said the volume of business picked up even as the market opened for a special session of two-hour before the puja ceremony to open new account books.
In addition, the gold in overseas markets which set price trend in domestic front here, climbed above 1,700 dollar an ounce to its highest level in a month as concerns about Europe's debt crisis spurred demand for the metal as a protection of wealth.
On the domestic front, gold of 99.9 and 99.5 percent purity surged by 730 to 27,890 and 27,750 per ten grams respectively. Sovereign also moved up by 200 to 22,200 per piece of eight gram.
In similar fashion, silver ready spurted by 2300 to 56,000 per kg and weekly-based delivery by 2200 to 55,500 per kg respectively. Silver coins jumped up by Rs 2000 to 65,000 for buying and 66,000 for selling of 100 pieces.