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Gold price surges on firm global cues, jewellers’ buying

LiveMint logoLiveMint 02-09-2017 PTI

New Delhi: Gold prices rallied for the second day on the back of positive global cues, rising by Rs200 to Rs30,400 per ten gram at the Delhi bullion market on Saturday.

Besides, persistent buying by local jewellers to meet the increased demand helped the upswing.

Marketmen said apart from a firm trend overseas where gold surged after the US jobs data for August fell short of expectations, increased buying by local jewellers at the domestic spot market, kept the prices higher.

Globally, gold rose 0.27% to $1,324.40 an ounce and silver by 0.91% to $17.70 an ounce in New York in yesterday’s trade.

In the national capital, gold of 99.9% and 99.5% purity advanced by Rs200 each to Rs30,400 and Rs30,250 per ten gram, respectively. It had gained Rs150 yesterday. Sovereign however remained unaltered at Rs24,600 per piece of eight gram.

Tracking gold, silver ready rose further by Rs300 to Rs41,500 per kg and weekly-based delivery by Rs240 to Rs40,020 per kg. Silver coins however remained unaltered at Rs74,000 for buying and Rs75,000 for selling of 100 pieces.

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