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Gold prices rise by Rs160 on global cues

LiveMint logoLiveMint 06-06-2017 PTI

New Delhi: Maintaining an upward trend for the third straight session today, gold prices rose by Rs160 to Rs29,750 per 10 grams at the bullion market here on persistent local buying and positive global cues.

Silver also rebounded by Rs440 to Rs40,840 per kg on increased offtake by industrial units and coin makers. Bullion traders said besides firming global trend, persistent buying by local jewellers at domestic spot market mainly kept gold prices higher.

Globally, gold rose by 0.75% to $1,288.90 an ounce and silver by 0.54% to $17.62 an ounce in Singapore.

In the national capital, gold of 99.9 and 99.5 per cent purity climbed by Rs160 each to Rs29,750 and Rs29,600 per 10 grams, respectively.

The precious metal had gained Rs 340 in last two days.

Sovereign also traded higher by Rs100 to Rs24,500 per piece of eight grams. Tracking gold, silver ready shot up by Rs440 to Rs40,840 per kg and weekly-based delivery by Rs250 to Rs40,630 per kg. Silver coins, however, maintained a steady trend at Rs72,000 for buying and Rs73,000 for selling of 100 pieces.

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