Gold price rises by Rs 100 to Rs 29,350 per 10 grams

New Delhi: Gold prices rose by Rs 100 to Rs 29,350 per 10 grams at the bullion market Monday on increased buying by local jewellers even as the metal weakened overseas.

However, silver receded by Rs 5 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 fell 0.02 percent to USD 1,266.50 an ounce in Singapore.

In the national capital, gold of 99.9 percent and 99.5 percent purity went up by Rs 100 each to Rs 29,350 and Rs 29,200 per 10 grams, respectively.

Sovereign, however, remained unaltered at Rs 24,400 per piece of 8 grams.

Silver ready receded by Rs 5 to Rs 40,265 per kg, while weekly-based delivery edged up by Rs 40 to Rs 40,130 per kg on speculative buying.

On the other hand, silver coins maintained a steady trend at Rs 71,000 for buying and Rs 72,000 for selling of 100 pieces.