In Delhi gold prices extended gains for the second consecutive day by adding Rs 20 to Rs 30,200 per ten grams today on sustained buying by wholesalers for the marriage season amid firm global cues.
Silver followed the same trand and gained Rs 50 to Rs 45,250 per kg on gain extraction of industrial units and coin makers.
In Mumbai, gold of 99.9 and 99.5 percent purity was traded at Rs 30,170 and Rs 30,020 per ten grams, while silver asked Rs 46,000 per kg.
Traders said sustained buying by stockists and retailers for the marriage season amid a firm global trend where gold rebounded on signs of rising demand such as holdings SPDR Trust, the world biggest gold exchange-traded fund expanded the highest figure since 2011, primarily driven sentiment.
Gold in Singapore, price trend usually take care on the domestic front, rose by 0.5 percent to $ 1260.07 an ounce, the highest price since Dec. 11. Silver rose 0.2 percent to $ 20.35 an ounce.
Domestically, gold of 99.9 and 99.5 per cent purity moved forward by Rs 20 each to Rs 30,200 and Rs 30,000 per ten grams respectively. It had gained Rs 210 in the previous session.
Sovereign also rose by Rs 100 to Rs 25,100 per piece of eight grams.
Aligned with a general firm trend, silver rose further by Rs 50 to Rs 45,250 per kg and weekly-based delivery by Rs 65 to Rs 45,200 per kg. The white metal had gained Rs 600 in the last session.
Silver coins, however, remain constant trend Rs 85,000 for buying and Rs 86,000 for selling of 100 pieces.
Reported News Source: PTI Economic Times