Gold, silver extend gains on global cues

Gold, silver extend gains on global cues New Delhi: Both the precious metals, gold and silver, rose further Wednesday on sustained buying by stockists on a firming global trend.

While gold advanced by Rs 150 to Rs 30,330 per 10 grams, silver gained Rs 150 to Rs 55,600 per kg.

Traders said sustained buying by stockists in line with a firming global trend mainly kept gold and silver remained higher for the second straight day.

In New York, gold rose by USD 21.10 to USD 1,614.70 an ounce and silver by 1.52 percent to USD 29.43 an ounce last night.

On the domestic front, gold of 99.9 and 99.5 percent purity advanced by Rs 150 each to Rs 30,330 and Rs 30,130 per 10 grams, respectively. It had gained Rs 280 yesterday. Sovereigns held steady at Rs 25,300 per piece of eight grams.

In line with a general firm trend, silver ready rose further by Rs 150 to Rs 55,600 per kg and weekly-based delivery by Rs 315 to Rs 54,165 per kg. The white metal had gained Rs 1,700 in yesterday.

Silver coins also spurted by Rs 1,000 to Rs 83,000 for buying and Rs 84,000 for selling of 100 pieces on upsurge in demand.

PTI