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Gold prices climb Rs55 on global cues

LiveMint logoLiveMint 15-05-2017 PTI

New Delhi: Gold prices racked up gains on a bout of risk aversion as it climbed for the third straight day by gaining Rs55 to Rs28,630 per 10 grams on Monday, reflecting a firm overseas trend amid local buying push. However, silver prices came down by Rs100 to Rs38,500 per kg due to lower offtake.

Sustained buying by local jewellers at the domestic spot market mainly kept gold prices elevated, bullion traders said.

Globally, gold prices rose 0.32% to $1,231.60 an ounce in Singapore. In the national capital, gold of 99.9% and 99.5% purity edged up further by Rs55 each to Rs28,630 and Rs28,480 per 10 grams, respectively.

Gold prices had gone up Rs 175 over the previous two days. Sovereign also firmed up by Rs100 at Rs24,400 per piece of eight grams.

On the other hand, silver ready softened by Rs100 to Rs38,500 per kg while weekly-based delivery surged by Rs295 to Rs38,450 per kg on speculative buying.

Meanwhile, silver coins remained flat at Rs69,000 for buying and Rs70,000 for selling of 100 pieces.

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