Gold remains up on jewellers’ buying

TIL Desk/Business/New Delhi/ Gold prices edged higher by Rs 20 to Rs 30,500 per ten grams at the bullion market on increased buying by local jewellers despite a weak trend overseas. Silver also recovered by Rs 20 to Rs 39,900 per kg on increased offtake by industrial units and coin makers.

Bullion traders said sustained buying by local jewellers at domestic spot market, mainly kept gold prices higher but a weak trend overseas capped the rise. Globally, gold edged lower by 0.23 per cent to USD 1,316.70 an ounce and silver by 0.20 per cent to USD 17.06 an ounce in Singapore.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity edged higher by Rs 20 each to Rs 30,500 and Rs 30,350 per ten grams, respectively. The precious metal had gained Rs 30 yesterday. Sovereign however remained flat at Rs 24,700 per piece of eight gram.

Silver ready traded higher by Rs 20 to Rs 39,900 per kg, while weekly-based delivery shed Rs 15 to Rs 39,100 per kg. Meanwhile, silver coins continued to be traded at previous level of Rs 73,000 for buying and Rs 74,000 for selling of 100 pieces.