Gold rises by Rs 100 on jewellers’ buying

~~Mumbai (April 5)  Gold prices rallied by Rs 100 to Rs 32,770 per 10 gram in the national capital on Friday due to increased buying by jewellers, according to the All India Sarafa Association.

Silver too surged by Rs 200 to Rs 38,530 a kg on more offtake by industrial units and coin makers. Traders said rise in demand from local jewellers led to the uptick in gold prices though a weak trend overseas capped the gains.

In the international market, spot gold was trading lower at $ 1,287.98 an ounce, while silver stood steady at $ 15.13 an ounce in New York. In the national capital, gold of 99.9 per cent and 99.5 per cent purity rose by Rs 100 to Rs 32,770 and Rs 32,600 per 10 gram, respectively. It had lost Rs 180 in the last two days. However, sovereign gold held steady at Rs 26,400 per eight gram.

Silver ready advanced by Rs 200 to Rs 38,530 a kg, while weekly-based delivery gained Rs 61 to Rs 37,531 a kg. Silver coins held flat at Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.

BusinessLine