Global cues, jewellers’ buying push gold prices up by Rs 200

Friday, Jul 1, 2016,15:28 IST By Metrovaartha A A A

New Delhi | Gold prices rose for the second straight day today, gaining Rs 200 to Rs 30,550 per 10 grams at the bullion market today, driven by a firm global trend and persistent buying by jewellers at the domestic spot market.

Silver too continued its rising streak for the fourth day in a row and reclaimed Rs 44,000 per kg mark by surging Rs 1,300 to Rs 44,600 per kg on increased offtake from industrial units and coin makers.

Analysts said the firming global trend where gold climbed on speculation that central banks would support their economies in the wake of Britain’s vote to quit the European Union buoyed sentiment here. Globally, gold added 0.8 per cent to USD 1,332.17 an ounce while silver rose 3.6 per cent to USD 19.39 in Singapore.

Besides, increased buying by jewellers at domestic spot market supported the upside, they added. In the national capital, gold of 99.9 per cent and 99.5 per cent purity climbed by Rs 200 each to Rs 30,550 and Rs 30,400 per 10 grams respectively. The metals had gained Rs 100 yesterday.

Sovereign also moved up by Rs 100 to Rs 23,400 per piece of eight grams. Tracking gold, silver ready rallied by Rs 1,300 to Rs 44,600 per kg and weekly-based delivery by Rs 2,220 to trade at Rs 45,170 per kg. Silver coins, however, held steady at Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces.