Gold price rises marginally to Rs 29,290 per 10 grams

New Delhi: Gold rose marginally by Rs 5 to Rs 29,290 per 10 grams, rising for the third straight day at the bullion market today, tracking a firming global trend amid scattered buying by jewellers.

However, silver shed Rs 50 at Rs 37,200 per kg on reduced offtake by industrial units and coin makers.

Bullion traders said a firming global trend where gold rose for a fourth day to head for the biggest monthly advance in four years and buying by jewellers at domestic markets, mainly influenced sentiments.

Globally, gold climbed 0.6 percent to USD 1,240.47 an ounce in Singapore.

In the national capital, gold of 99.9 percent and 99.5 percent purity edged up by Rs 5 each to Rs 29,290 and Rs 29,140 per ten grams respectively. It had gained Rs 375 in last two days.

Sovereign, however, held steady at Rs 23,000 per piece of eight grams in scattered deals.

On the other hand, silver ready declined by Rs 50 to Rs 37,200 per kg and weekly-based delivery by Rs 180 to Rs 37,065 per kg.

Meanwhile, silver coins held stable at Rs 55,000 for buying and Rs 56,000 for selling of 100 pieces.