Gold, silver prices rise on uptick in buying by jewellers

New Delhi-India (Apr 3)  Gold prices rose by Rs 175 to trade at one-week high at Rs 26,950 per 10 gram on increased buying by jewellers and retailers even as the precious metal weakened overseas.

Silver too played along, gaining Rs 250, to hit Rs 37,600 per kg on increased offtake by industrial units and coin makers.

In the national capital, gold 99.9 per cent and 99.5 per cent purity climbed Rs 175 each to Rs 26,950 and Rs 26,800 per 10 grams, respectively, a level last seen on March 26.

The sovereign, however, continued to be traded at Rs 23,700 per piece of eight grams.

Globally, gold in New York, which sets the price trend at domestic markets, fell 0.09 per cent to $1,202 an ounce in Thursday's trade.

In line with the general firm trend, silver ready rose by Rs 250 at Rs 37,600 per kg and weekly-based delivery by Rs 90 at Rs 37,350 per kg.

On the other hand, silver coins of 100 pieces were unaltered at Rs 56,000 for buying and Rs 57,000 for selling.

Source: BusinessToday