Gold Extends Gains, Up 
95 On Global Cues, Seasonal Demand
NEW DELHI: Rising for the second straight day, gold prices advanced by 
95 to 27,980 per ten gram at the bullion market today on continued buying by jewellers and retailers to meet wedding season demand amid a firming global trend.
Tracking gold, silver also surged by 1,245 to 39,145 per kg on increased offtake by industrial units and coin makers.
Bullion merchants said sustained buying by jewellers, driven by wedding season demand and a firming trend overseas where gold posted the biggest weekly gains in 18 months as turmoil in European currency markets spurred demand for the metal as a safe-haven, kept precious metals higher.
Gold in New York, which normally determines price trend on the domestic front, rose 1 per cent to $1,276.90 an ounce after reaching $1,282.40, the highest since September 2. Silver also gained 3.8 percent to $17.75 an ounce, the biggest gain since December 9.
In the national capital, gold of 99.9 and 99.5 per cent purity were up by 95 each to 27,980 and 27,780 per ten gram respectively. It had gained 565 yesterday.
Sovereign, however, held steady at 23,900 per piece of eight gram. Silver ready recorded a significant rise of 1,245 to 39,145 per kg and weekly-based delivery by 1,320 to 39,160 per kg. Silver coins also jumped up by 1,000 to 63,000 for buying and 64,000 for selling of 100 pieces.
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