Gold surges by Rs 150, silver gains Rs 100
New Delhi: A firm trend was seen in the bullion market here Monday as gold gained Rs 150 to Rs 30,450 per 10 grams on strong global cues, while silver added Rs 100 to Rs 53,900 per kg on increased buying by jewellers and coin makers.
Traders said sentiments bolstered as gold climbed in overseas markets on speculation that central banks, including the US Federal Reserve, may take more actions to stimulate their economies.
In Singapore, gold gained 0.3 percent to USD 1,625 an ounce in Singapore.
Some investors were also seen shifting their funds from volatile equity market to rising bullion which further supported the uptrend.
On the domestic front, gold of 99.9 and 99.5 per cent purity rose by Rs 150 each to Rs 30,450 and Rs 30,250 per 10 grams, respectively.
Sovereign remained steady at Rs 24,450 per piece of eight grams.
In a similar fashion, silver ready gained Rs 100 to Rs 53,900 per kg and weekly-based delivery by Rs 115 to Rs 53,610 per kg.
Silver coins spurted by Rs 1,000 to Rs 64,000 for buying and Rs 65,000 for selling of 100 pieces.