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Gold firms up on global cues, silver vaults above Rs 41,000

The metal for delivery in far-month August contracts was up by Rs 57, or 0.19 per cent, at Rs 30,335 per 10 gm in a turnover of 45 lots.

By: PTI | New Delhi |
May 16, 2016 12:11:36 pm
The metal for delivery in far-month August contracts was up by Rs 57, or 0.19 per cent, at Rs 30,335 per 10 gm in a turnover of 45 lots.

Gold prices inched up by Rs 25 to Rs 30,050 per 10 grams in the bullion market on Monday, riding largely on a firm trend overseas, along with scattered buying by jewellers at the domestic spot market.

Silver also recaptured the crucial Rs 41,000-mark by rising Rs 335 to Rs 41,260 per kg on increased off-take by industrial units and coin makers.

Traders said that besides a firm global trend, buying by jewellers at the domestic market gave gold prices some shine.

Globally, gold rose 0.39 per cent to $ 1,277.80 an ounce in Singapore.

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In the national capital, gold of 99.9 per cent and 99.5 per cent purity edged up by Rs 25 each to Rs 30,050 and Rs 29,900 per 10 grams, respectively. The precious metal had shed Rs 25 on Saturday’s trade.

Sovereign, however, remained flat at Rs 23,300 per piece of eight grams in limited deals.

Following gold, silver ready surged by Rs 335 to Rs 41,260 per kg and weekly-based delivery by Rs 365 to Rs 41,375 per kg.

On the other hand, silver coins continued to be traded at the previous level of Rs 69,000 for buying and Rs 70,000 for selling of 100 pieces.

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