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Gold prices glitter on jewellers’ buying

LiveMint logoLiveMint 29-05-2017 PTI

New Delhi: Gold prices rose by Rs100 to Rs 29,350 per 10 grams at the bullion market on Monday on increased buying by local jewellers even as the metal weakened overseas.

However, silver receded by Rs5 to Rs 40,265 per kg on reduced offtake by industrial units. Marketmen said increased buying by local jewellers to meet rising wedding season demand at domestic spot market mainly led to the rise in gold prices but a weak trend overseas capped the gain.

Globally, gold prices fell 0.02% to $1,266.50 an ounce in Singapore.

In Delhi, gold prices of 99.9% and 99.5% purity went up by Rs100 each to Rs29,350 and Rs29,200 per 10 grams, respectively. Sovereign, however, remained unaltered at Rs24,400 per piece of 8 grams.

Silver ready receded by Rs5 to Rs40,265 per kg, while weekly-based delivery edged up by Rs40 to Rs40,130 per kg on speculative buying.

On the other hand, silver coins maintained a steady trend at Rs71,000 for buying and Rs72,000 for selling of 100 pieces.

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