Gold price remains up on global cues, jewellers buying

Mumbai-India (Dec 22)  Gold advanced by Rs 150 to Rs 25,750 per ten grams at the bullion market today, taking positive cues from global markets amid increased buying by jewellers as well as retailers.

 Silver regained the Rs 34,000-mark rising by Rs 250 to Rs 34,100 per kg on increased offtake by industrial units and coin-makers.

 Bullion traders said besides a firm global trend as the dollar retreated, rising appeal of the precious metal, increased buying by jewellers kept precious metals prices higher.

 Globally, gold rose 1.13 per cent to USD 1,078.20 an ounce and silver by 1.17 per cent to USD 14.25 an ounce in New York in yesterday's trade.

 In the national capital, gold of 99.9 per cent and 99.5 per cent purity shot up by Rs 150 each to Rs 25,750 and Rs 25,600 per ten grams respectively. It had gained Rs 70 yesterday.

 Sovereign, however, remained steady at Rs 22,200 per piece of eight grams.

 Tracking gold, silver ready rose further by Rs 250 to Rs 34,100 per kg and weekly-based delivery by Rs 235 to Rs 34,180 per kg.

 Silver coins too spurted by Rs 1,000 to Rs 48,000 for buying and Rs 49,000 for selling of 100 pieces.

Source: Business-Standard