Gold, Silver Hold Gains on Jewellers Buying

Gold, Silver Hold Gains on Jewellers Buying

Gold Silver Reports — Gold, Silver Hold Gains on Jewellers Buying — Continuing its rising streak for the third straight day, gold advanced by another Rs30 to Rs29,880 per 10 grammes on Saturday on sustained buying by jewellers to meet wedding season demand even as metal weakened overseas.

Silver also edged higher by Rs50 to Rs43,450 per kg on increased offtake by industrial units and coin makers. Traders said persistent buying by local jewellers to meet ongoing wedding season demand mainly kept the precious metal higher, but a weak trend overseas capped the losses.

Globally, gold fell 0.32% to $1,234.60 an ounce and silver 0.64% to $17.95 an ounce in New York on Friday.

In the national capital, gold of 99.9% and 99.5% purity rose further by Rs30 each to Rs29,880 and Rs29,730 per 10 grammes, respectively. It had gained Rs225 in the previous two days. Sovereign, however, remained steady at Rs24,500 per piece of eight grams.

Silver ready also moved up by Rs50 to Rs43,450 per kg and weekly-based delivery by Rs75 to Rs42,935 per kg. Silver coins, however, continued to be traded at previous level of Rs73,000 for buying and Rs74,000 for selling of 100 pieces.

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Neal Bhai has been involved in the Bullion and Metals markets since 1998 – he has experience in many areas of the market from researching to trading and has worked in Delhi, India. Mobile No. - 9899900589 and 9582247600

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