Gold prices reclaim Rs30,000-mark, hit 3-week high on firm global cues

New Delhi-India (Dec 27)   Gold prices reclaimed the Rs30,000-level with a jump of Rs100 to trade at a three-week high of Rs30,075 per 10 grams on Wednesday, tracking a firm trend overseas amid persistent buying by local jewellers.

Silver prices also recaptured the Rs39,000-mark by surging Rs380 to Rs39,250 per kg due to increased offtake by industrial units and coin makers.

Bullion traders said that the sentiment remained firm on the back of a firm global trend where gold edged up to a more than three-week high on support from a weaker dollar. In addition, persistent buying by local jewellers at domestic spot market fuelled the uptrend, they added.

Globally, gold rates rose 0.14% to $1,284.80 an ounce and silver by 0.27% to $16.57 an ounce in Singapore.

In the national capital, gold of 99.9% and 99.5% purity advanced by Rs100 each to Rs30,075 and Rs29,925 per 10 grams, respectively, a level last seen on 6 December. The precious metal had gained Rs290 in the previous three sessions. Sovereign also went up by Rs100 to Rs24,700 per piece of eight grams in limited deals.

In line with gold, silver ready rose by Rs380 to Rs39,250 per kg and weekly-based delivery by Rs245 to Rs38,340 per kg. Silver coins too spurted by Rs1,000 to Rs72,000 for buying and Rs73,000 for selling of 100 pieces.

LiveMint