Gold extends gains on global cues, wedding season buying

New Delhi, Nov 15 (PTI) Gold prices went up by Rs 75 toRs 30,625 per ten grams at the bullion market todaymaintaining its upward march for the thir...

New Delhi, Nov 15 (PTI) Gold prices went up by Rs 75 toRs 30,625 per ten grams at the bullion market todaymaintaining its upward march for the third straight day on theback of positive global cues.

Besides, increased buying by local jewellers to meet theongoing wedding season demand, helped the upswing.

However, silver receded by Rs 5 to Rs 40,725 per kg dueto reduced offtake by industrial units and coin makers.

Marketmen said, besides firm trend overseas as investorsawaited the October consumer inflation data from the US forpotential hints on the Federal Reserve's monetary tighteningpolicy, increased offtake by local jewellers to meet ongoingwedding season at the domestic spot market, kept gold priceshigher.

Globally, gold rose 0.16 per cent to USD 1,281.80 anounce and silver by 0.21 per cent to USD 17.04 an ounce inSingapore.

In the national capital, gold of 99.9 per cent and 99.5per cent purity added Rs 75 each to Rs 30,625 and Rs 30,475per ten grams, respectively. It had gained Rs 100 in theprevious two sessions.

Sovereign, however, remained unaltered at Rs 24,700 perpiece of eight grams.

On the other hand, silver ready eased by Rs 5 to Rs40,725 per kg and weekly-based delivery went down by Rs 15 toRs 39,785 per kg.

Silver coins remained unaltered at Rs 74,000 for buyingand Rs 75,000 for selling of 100 pieces. PTI SUN KPSSBT.

This is unedited, unformatted feed from the Press Trust of India wire.

Related Stories

No stories found.
The New Indian Express
www.newindianexpress.com