Gold, Silver Maintain Upward March on Higher Global Cues - The New Indian Express

Gold, Silver Maintain Upward March on Higher Global Cues

Published: 26th February 2014 05:13 PM

Last Updated: 26th February 2014 05:13 PM

Gold prices Wednesday rose for the fourth straight day by adding Rs 135 to Rs 31,500 per ten gram on steady buying by stockists for the marriage season amid a higher global cues.

Silver also extended gains for the fifth day by adding Rs 50 to Rs 48,300 per kg on increased offtake by industrial units.

Traders said sentiment remained bullish as stockists increased their positions to meet the seasonal demand.

They said firming global trend, where gold rose to 17-week high after US economic data missed estimates and unrest in emerging markets boosting haven demand, further fuelled the uptrend.

Gold in Singapore, which normally sets price trend on the domestic front, rose by by 0.4 per cent to USD 1,345.46 an ounce, the highest since October 30 and silver by 0.6 per cent to USD 21.98 an ounce.

On the domestic front, gold of 99.9 and 99.5 per cent purity advanced by Rs 135 each to Rs 31,500 and Rs 31,300 per ten gram respectively. It had gained 215 in last three days.

Sovereign, however, held steady at Rs 25,500 per piece of eight gram in limited deals.

Silver ready gained Rs 50 to Rs 48,300 per kg while weekly-based delivery shed Rs 10 at Rs 47,840 per kg. The white metal had gained Rs 750 in previous four sessions.

On the other hand, silver coins continued to be asked at last level of Rs 89,000 for buying and Rs 90,000 for selling of 100 pieces.

comments powered by Disqus

Disclaimer: We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the NIE editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.


Read More



follow us Mobile Site iPad News Hunt Android RSS Tumblr Linekin Pinterest Youtube Google Plus Twitter Facebook