Gold price rises for 2nd day, settles at Rs 28,200 per 10 grams
Continuing its upward trend for the second straight day, gold prices rose by another Rs 175 to Rs 28,200 per 10 grams on positive global cues and increased buying by jewellers.
New Delhi: Continuing its upward trend for the second straight day, gold prices rose by another Rs 175 to Rs 28,200 per 10 grams on positive global cues and increased buying by jewellers.
At Multi Commodity Exchange (MCX), gold for delivery in February rose by Rs 139, or 0.51 percent, to Rs 27,309 per 10 grams.
Analysts said speculators' widening their bets, tracking a firming global trend, mainly supported the upside in gold prices at futures trade here.
Globally, gold prices rose today, extending gains after it hit a near two-week high in the previous session, on a technically-driven rebound in thin volume amid a slightly weaker dollar.
Spot gold was up half a percent at USD 1,143.98 an ounce. Gold hit its strongest since Dec 14 on Tuesday at USD 1,148.98.
US gold futures also rose 0.5 percent at USD 1,144.50 per ounce.
In the national capital, gold of 99.9 percent and 99.5 per cent purity advanced Rs 175 each to Rs 28,200 and Rs 28,050 per 10 grams, respectively. The precious metal had climbed Rs 475 yesterday.
Following gold, silver ready moved up further by Rs 350 to Rs 39,500 per kg and weekly-based delivery by Rs 195 to Rs 39,315 per kg.