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Gold gains Rs 210 on jewellers’ buying

New Delhi: Gold prices rose by Rs 210 to Rs 29,410 per 10 grams at the bullion market today on increased buying by local jewellers even as the metal weakened overseas. Silver also strengthened by Rs 565 to Rs 39,865 per kg backed by increased offtake from industrial units and coin makers.

Traders attributed the rise in gold prices to increased buying by local jewellers at domestic spot markets, but a weak trend overseas capped the rise. Globally, gold fell 0.34 per cent to USD 1,241.20 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 climbed by Rs 210 each to Rs 29,410 and Rs 29,260 per 10 grams, respectively. It had lost Rs 100 yesterday. Sovereign, however, remained steady at Rs 24,400 per piece of eight grams.

Following gold, silver ready surged by Rs 565 to Rs 39,865 per kg, while weekly-based delivery fell by Rs 140 to Rs 38,345 per kg. Silver coins spurted by Rs 1,000 to Rs 73,000 for buying and Rs 74,000 for selling of 100 pieces.

PTI