Gold, silver up on seasonal demand, global cues
New Delhi: Both the precious metals, gold and silver prices, rose here Monday on increased buying by stockists and retailers to meet the ongoing marriage season demand amid a firm global trend.
While gold rose by Rs 100 to Rs 28,200 per 10 grams, silver moved up by Rs 100 to Rs 47,000 per kg on increased offtake by jewellers and industrial units.
Traders said increased buying by stockists and retailers for the ongoing marriage season mainly pushed up precious metals prices.
They said the uptrend was further supported by a firm global trend.
In Singapore, gold rose 0.7 percent to USD 1,472.78 an ounce and silver by one percent to USD 24.23 an ounce.
On the domestic front, gold of 99.9 and 99.5 percent purity rose by Rs 100 each to Rs 28,200 and Rs 28,000 per 10 grams, respectively. Sovereigns followed suit and moved up by Rs 100 to Rs 24,300 per piece of eight grams.
In line with a general firm trend, silver ready moved up by Rs 100 to Rs 47,000 per kg and weekly-based delivery by Rs 145 to Rs 45,145 per kg.
However, silver coins held steady at Rs 77,000 for buying and Rs 78,000 for selling of 100 pieces.