Gold extends gain, up Rs 110 on jewellers' buying

New Delhi: Increased buying by jewellers in domestic bullion market and firm global cues propped up gold prices by Rs 110 to Rs 31,150 per 10 grams on Monday.

Silver recaputred the Rs 45,000-mark by surging Rs 525 to Rs 45,500 per kg on higher off-take by industrial units and coin makers.

Marketmen said a firming trend overseas where gold rebounded from the lowest level helped the metal prices here.

Globally, gold rose 0.4 percent to USD 1,315.30 an ounce in Singapore from USD 1,310.35 on Friday, the lowest close since August 31. Silver also surged 2.1 percent, the most since September 6, to 19.17 an ounce.

Besides, continued buying by jewellers at the domestic spot market supported the upside in the precious metals prices, they said.

In the national capital, gold of 99.9 percent and 99.5 percent purity climbed by Rs 110 each to Rs 31,150 and Rs 31,000 per 10 grams, respectively. It had gained Rs 40 in Saturday's trade.

Sovereign, however, remained flat at Rs 24,400 per piece of eight grams.

In step with gold, silver ready rebounded by Rs 525 to Rs 45,500 per kg and weekly-based delivery by Rs 560 to Rs 45,830 per kg.

On the other hand, prices of silver coins remained unaltered at Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.