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Global cues lift gold prices; silver turns weak

Wednesday, Oct 19, 2016,15:39 IST By Metrovaartha A A A

New Delhi | Gold prices advanced further by Rs 55 to Rs 30,380 per 10 grams today, supported by positive global cues amid wedding season buying by jewellers in the domestic spot market.

However, silver declined by Rs 50 to Rs 42,550 per kg on reduced off-take by industrial units and coin makers.
Traders said that apart from a firming global trend, increased buying by jewellers at the domestic spot market to meet wedding season demand mainly kept gold prices higher.

Globally, gold rose 0.01 per cent to USD 1,262.30 an ounce in Singapore.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity added another Rs 55 each to Rs 30,380 and Rs 30,230 per 10 grams, respectively. The precious metal had gained Rs 75 yesterday.

Sovereign, however, remained unchanged at Rs 24,300 per piece of eight grams.
On the other hand, silver ready drifted lower by Rs 50 to Rs 42,550 per kg and weekly-based delivery traded lower by Rs 140 to Rs 42,160 per kg.

Silver coins remained flat at Rs 73,000 for buying and Rs 74,000 for selling of 100 pieces.

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