Gold & silver rise on positive global cues

New Delhi-India (Mar 14)  Gold prices rose by Rs 100 at Rs 26,420 per 10 grams at the bullion market today amidst a firm global trend and increased buying by jewellers.

 Silver also strengthened by Rs 200 at Rs 36,000 per kg on increased offtake by industrial units and coin makers.

 Marketmen said apart from buying by jewellers as well as retailers, a firm global trend mainly led to the rise in the prices of precious metals.

 Gold in New York, which normally determines price trend on the domestic front, rose by 0.51 per cent to USD 1,158.60 an ounce and silver gained 0.55 per cent to USD 15.64 an ounce in yesterday's trade.

 In the national capital, gold of 99.9 and 99.5 per cent purity rose by Rs 100 each at Rs 26,420 and Rs 26,220 per 10 grams, respectively.

 Sovereign, however, continued to trade at last level of Rs 23,600 per piece of eight grams.

 In line with gold, silver ready advanced by Rs 200 at Rs 36,000 per kg and weekly-based delivery by Rs 55 at Rs 35,530 per kg.

 Silver coins spurted by Rs 1,000 at Rs 56,000 for buying and Rs 57,000 for selling of 100 pieces.

Source: BusinessStandard