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Gold prices extend gain, rise Rs130 on global cues

LiveMint logoLiveMint 05-04-2017 PTI

New Delhi: Gold continued its upward march for the third straight day by rising Rs 130 to Rs 29,400 per 10 grams at the bullion market on Wednesday on positive global cues and increased buying by local jewellers.

Silver recovered by Rs200 to Rs42,600 per kg, backed by increased offtake by industrial units and coin makers. Traders said besides a firm trend overseas, pick up in buying by local jewellers at the domestic spot market kept gold prices higher.

Globally, gold rose 0.10% to $1,257 an ounce in Singapore.

Also Read: Global gold prices steady ahead of Trump’s meeting with Xi Jinping

In the national capital, gold of 99.9% and 99.5% purity rose further by Rs130 each to Rs29,400 and Rs29,250 per 10 grams, respectively.

The precious metal had gained Rs210 in the previous two days.

Sovereign, however, remained unaltered at Rs24,400 per piece of eight grams in limited deals. Silver ready also recovered by Rs200 to Rs42,600 per kg, while weekly-based delivery rose by Rs170 to Rs42,425 per kg. On the other hand, silver coins remained flat at Rs71,000 for buying and Rs72,000 for selling of 100 pieces.

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