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Gold glitters on global cues, jewellers' buying

by October 13, 2016 General

Press Trust of India  |  New Delhi

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Gold regained it sheen by surging Rs 250 to 30,400 per 10 gram at the bullion market today largely on a firm global trend amid increased buying by jewellers at domestic spot market, triggered by wedding season demand.

Silver also recovered on mild demand from industrial units.

Analysts attributed the rebound in gold prices to a firm trend overseas and increased buying by jewellers at domestic spot market to meet the wedding season demand.

Globally, gold rose 0.36 per cent to USD 1,259.40 an ounce in Singapore.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity spurted by Rs 250 each to Rs 30,400 and Rs 30,250 per 10 gram, respectively. The metal had lost Rs 260 yesterday.

Sovereign, however, held steady at Rs 24,300 per piece of eight grams.

In line with gold, silver ready edged up by Rs 35 to Rs 42,625 per kg and weekly-based delivery by Rs 140 to Rs 42,230 per kg.

Silver coins, however, held steady at Rs 73,000 for buying and Rs 74,000 for selling of 100 pieces.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)