Gold price rises to Rs 30,935 per 10 grams

New Delhi: Gold prices advanced for the third day Wednesday, spurred by a firm trend overseas and fresh buying by local jewellers, climbing Rs 45 to Rs 30,935 per 10 grams.

Silver, too, gained for the fourth day, rising Rs 130 to Rs 46,900 per kg due to increased off-take by industrial units and coin makers.

According to traders, a firming global trend where gold recovered after recent losses as investors took advantage of a decline and added to their bets explains the upmove.

Globally, gold climbed 0.7 percent to USD 1,341.71 an ounce in Singapore.

In the national capital, gold of 99.9 percent and 99.5 percent purity traded higher by Rs 45 each to Rs 30,935 and Rs 30,785 per 10 grams, respectively. It had advanced Rs 190 in the last two days.

Sovereign, too, turned dearer by Rs 100 at Rs 23,500 per eight grams.

Tracking gold, silver ready rose Rs 130 to Rs 46,900 per kg while weekly-based delivery shed Rs 15 at Rs 47,890 per kg.

Silver coins, however, held steady at Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces.