Gold logs weekly gain of Rs 175 in Delhi
New Delhi: Both the precious metals, gold and silver ended on a bullish note in the national capital during the past week on persistent buying by stockists to meet the festive season demand amid a firming global trend.
Traders said persistent buying by stockists to meet the festive season demand amid a firming global trend where gold touching 1401.40 dollar an ounce after 11 weeks, mainly led an upsurge in gold and silver prices.
In the national capital, gold of 99.9 and 99.5 per cent purity commenced lower at Rs 31,360 and Rs 31,160 and fell further to Rs 31,125 and Rs 30,925, respectively, on lack of buying support.
Later, it met with brisk stockists buying to meet the festive season demand amid a firm global trend and rebounded to close at Rs 31,700 and Rs 31,500 per ten gram, respectively, showing a gain of Rs 175 each.
Sovereign also moved up by Rs 200 to Rs 25,100 per piece of eight gram.
In a similar fashion, silver ready recorded a handsome gains of Rs 2,845 to Rs 53,530 per kg and weekly-based delivery by Rs 3,065 to Rs 53,600 per kg this week. Silver coins also jumped up by Rs 3,000 to Rs 90,000 for buying and Rs 91,000 for selling of 100 pieces.