Yellow Metal Prices Soar as Wedding Season Falls

Published: 20th January 2015 04:53 PM  |   Last Updated: 20th January 2015 04:53 PM   |  A+A-

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By PTI

NEW DELHI: Riding high on wedding season demand from jewellers and a firming trend overseas, gold continued its upward streak for the fourth straight session, with prices rising by another Rs 100 to Rs 28,180 per ten gram at the bullion market here today.     

Silver also rose by Rs 100 to Rs 39,200 per kg on increased offtake by industrial units and coin makers.     

Marketmen said apart from persistent buying by jewellers and retailers to meet ongoing wedding season demand, a firming global trend mainly kept the precious metal prices higher.      

Globally, gold rose 0.83 per cent to USD 1,290.90 an ounce and silver was up 0.79 per cent to, USD 17.92 an ounce in London in early trade today.     

In the national capital, gold of 99.9 and 99.5 per cent purity added another Rs 100 each to Rs 28,180 and Rs 27,980 per ten gram respectively. The precious metal had gained Rs 760 in the previous three sessions.     

Sovereign, followed suit and gained Rs 100 to Rs 24,000 per piece of eight gram. In line with overall overall trend, silver ready rose by Rs 100 to Rs 39,200 per kg and weekly-based delivery by Rs 110 to Rs 39,180 per kg. Silver coins spurted by Rs 1,000 to Rs 64,000 for buying and Rs 65,000 for selling of 100 pieces.

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