Gold price extends gains on buying by jewellers
New Delhi: Gold prices rose Rs 60 to Rs 28,785 per ten grams in the national capital Monday on the back of increased buying by jewellers amid wedding season demand even as the metal weakened overseas.
However, silver declined by Rs 100 to Rs 44,800 per kg on reduced offtake by industrial units.
Sentiments in gold remained firm on increased buying by jewellers to meet rising demand for the wedding season, traders said.
They said, however, a weak trend in global market as investment and physical demand eased after recent rally, capped the gains.
In Delhi, gold of 99.9 and 99.5 percent purity added Rs 60 each to Rs 28,785 and Rs 28,585 per ten grams, respectively. It had gained Rs 705 in last two sessions.
Sovereign held steady at Rs 24,900 per piece of 8 grams on scattered support.
Globally, gold was trading 0.15 percent lower at USD 1,312.70 an ounce in London.
On the other hand, silver ready fell by Rs 100 to Rs 44,800 per kg and weekly-based delivery by Rs 145 to Rs 44,425 per kg.
Silver coins, however, spurted by Rs 1,000 to Rs 79,000 for buying and Rs 80,000 for selling of 100 pieces.