Gold Gains On Wedding Season, Silver Sheds Rs. 500

New Delhi, Jan 30: Despite a weak trend in the overseas markets, gold prices rose for the third straight day by adding Rs. 55 to Rs. 28,465 per 10 gram in the bullion market in
gold gains on wedding season silver sheds rs. 500...
PTI January 30, 2012 16:38 IST

New Delhi, Jan 30: Despite a weak trend in the overseas markets, gold prices rose for the third straight day by adding Rs. 55 to Rs. 28,465 per 10 gram in the bullion market in New Delhi on Monday, while silver shed Rs. 500 to Rs. 56,000 per kg on stockists selling.

Traders said sentiment in gold remained firm on pickup in wedding season demand even as metal decline in the global markets.

Silver, however, fell on stockists selling in tandem with a weakening global trend and reduced offtake by industrial units, they added.

In Singapore, silver lost 0.7 per cent to $33.66 an ounce, while gold lost 0.4 per cent to $1,731.65 an ounce.

On the domestic front, gold of 99.9 and 99.5 per cent purity advanced by Rs. 55 each to Rs. 28,465 and Rs. 28,325 per 10 gram, respectively.

The precious metal had gained Rs. 640 in the last two sessions.

Sovereigns remained flat at Rs. 23,350 per piece of 8 gram.

Silver ready fell by Rs. 500 to Rs. 56,000 per kg and weekly-based delivery by Rs. 600 to Rs. 56,625 per kg.

Silver coins also declined by Rs. 1,000 to Rs. 66,000 for buying and Rs. 67,000 for selling of 100 pieces.

 
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