Gold gets extra lustre, climbs for third day

New Delhi: Gold prices moved up for the third straight session on Thursday by adding Rs 50 at Rs 29,300 per 10 grams, in sync with a firming trend overseas and continued buying by local jewellers.

Silver followed, which rose Rs 400 to Rs 39,500 per kg, driven by demand push from industrial units and coin makers.

A firm global trend amid a weakening dollar added to the lure of the precious metal. Globally, gold rose by 0.23 percent to USD 1,252.17 an ounce and silver by 0.46 percent to USD 16.88 an ounce in Singapore today.

Besides, continuous buying by local jewellers at domestic spot market carried forward the momentum.

In the national capital, gold of 99.9 percent and 99.5 percent purity rose further by Rs 50 each to Rs 29,300 and Rs 29,150 per 10 grams, respectively. The precious metal had gained Rs 150 in the last two days.

Sovereign, however, remained steady at Rs 24,400 per piece of eight grams.

Silver ready also shot up by Rs 400 to Rs 39,500 per kg and weekly-based delivery traded higher by Rs 140 to Rs 38,875 per kg.

On the other hand, silver coins maintained a steady trend at Rs 72,000 for buying and Rs 73,000 for selling of 100 pieces.