Gold gained for the most in over two weeks on the MCX bullion market today on increased purchasing by stockholders and the retail customers for festival of ongoing season & Marriage, in the midst of volatile trading on the worldwide markets.
The prices of gold rose by Rs 650 to Rs 31,200 per ten grams on heavy purchases by stockholders and retailers for the marriage season and get closer Diwali festival. Silver did the same and rose by Rs 230 to Rs 47,280 per kg on higher purchases of the industrial units and coin makers.
The silver coins soared by Rs 2,000 to Rs 85,000 for purchasing and Rs 86,000 by selling of 100 pieces. The silver coins normally used for gifting purpose, Diwali Pooja and at weddings. A volatile trading on global markets as Senators resumed talks in order to avoid U.S. default and completing a partial government shutdown furthered the sentiment.
Domestically, gold of 99.9 and 99.5 per percent pure increased by Rs 650 each to Rs 31,200 and Rs 31,000 per ten grams. Sovereign held no changes in Rs 25,100 per piece of eight grams. Silver ready increased by Rs 230 to Rs 47,280 per kg and a weekly-based delivery by Rs 1,200 to Rs 47,950 on higher purchases by profiteers.