Gold, Silver Glitter On Diwali Demand


New Delhi: Gold price increased by Rs. 160 to Rs. 30,750 per 10 grams on the eve of Diwali at the bullion market today on increased buying by jewellers to meet festive demand along with a firm global trend.

Silver recaptured the Rs. 43,000-mark per kg by gaining Rs. 300 on increased offtake by coin makers and industrial units.

Bullion merchants said increased buying by jewellers to meet Diwali demand at domestic spot market, mainly led to rise in the precious metals prices.

Besides, a firm trend overseas where gold rallied to a three-week high influenced the sentiment here.

Globally, gold rose by 0.52 per cent to $1,274.70 an ounce and silver by 0.77 per cent to $17.73 an ounce in New York in yesterday’s trade.

In the national capital, gold of 99.9 and 99.5 per cent purity surged by Rs. 160 each to Rs. 30,750 and Rs. 30,600 per 10 grams respectively. It had lost Rs. 125 in last two days.

Sovereign, however, remained steady at Rs. 24,500 per piece of eight grams.

Tracking gold, silver ready shot up by Rs. 300 to Rs. 43,000 per kg and weekly-based delivery by Rs. 370 to Rs. 42,540 per kg.

Silver coins continued to be traded at previous level of Rs. 74,000 for buying and Rs. 75,000 for selling of 100 pieces.