bullion, hoary expand on squat-altitude export

 
The gold bars souk began the New Year on a optimistic note with bullion increasing by Rs 225 to Rs 30,025 per ten grams and hoary in advance by Rs 45 to Rs 43,800 per kg on Wednesday on materialization of export at customary inferior levels for the resulting matrimony period.

In Mumbai, bullion of 99.9 and 99.5 per cent spotlessness highly developed by Rs 100 each to Rs 29,630 and Rs 29,480 per ten grams, in that order, while hoary mislaid Rs 460 at Rs 44,540 per kg.

Traders said appearance of import at established inferior levels for the imminent marriage time largely led the upturn move in prized metals.

On the familial frontage, gold of 99.9 and 99.5 per cent spotlessness rebounded by Rs 225 to Rs 30,025 and Rs 29,825 per ten grams, in that order. It had mislaid Rs 320 in last two sessions.

Monarch detained fixed at Rs 25,100 per section of eight gram.

In line with a all-purpose dense leaning, hoary prepared healthier by Rs 45 to Rs 43,800 and weekly-based rescue by Rs 5 to Rs 43,960 per kg. It had gone Rs 1,245 in last two days.

However, hoary loose change lacked compulsory import hold at obtainable elevated levels and plunged by Rs 1,000 to Rs 84,000 for selling and Rs 85,000 for advertising 100 pieces.

Gold prices increase for subsequent day on worldwide cues

Gold prices rose for the second straight day on Saturday by gaining Rs 120 to Rs 30,120 per ten grams in the national capital, largely in tandem with a firming trend overseas.

Traders said increased buying by stockists and jewellers amid a firming global trend, as the dollar's slump boosted demand for precious metals as an alternative investments, mainly influenced gold prices.

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Gold in New York, which normally sets price trend on the domestic front, up by 0.1 per cent to $1,214 an ounce while silver by 0.7 per cent to $20.04 an ounce.

On the domestic front, gold of 99.9 and 99.5 per cent purity advanced by Rs 120 each to Rs 30,120 and Rs 29,920 per ten grams respectively. It had gained Rs 100 on Friday.

Sovereign, however, remained steady at Rs 25,100 per piece of eight gram in scattered deals.

Silver ready rose for the fourth straight session, gaining Rs 250 to Rs 45,000 per kg and weekly-based delivery by Rs 320 to Rs 45,150 per kg on increased offtake by industrial units and coin makers, while silver coins continued to be asked at last level of Rs 85,000 for buying and Rs 86,000 for selling of 100 pieces.

Silver had gained Rs 1,200 in the previous three sessions.

Gold, silver prices zoom on seasonal demand

Gold prices surged by Rs 305 to Rs 31,930 per ten gram in the national capital on Wednesday on brisk buying by stockists and jewellers to meet the rising seasonal demand amid strong global trend.

Silver prices too zoomed by Rs 1,190 to Rs 50,200 per kg on increased offtake by industrial units and coin makers for coming festivals led by Diwali and ongoing marriage season.

Silver and gold coins, which are normally used for pooja on Diwali and gifting purpose during marriage celebrations, remained in keen demand.

Firm global trend after payrolls in the US climbed, increasing speculation the Federal Reserve will maintain monetary stimulus to boost the economy, also influenced the sentiment, traders said.

Gold in New York, which normally sets price trend on the domestic front, climbed 2 per cent to $1,342.60 an ounce, nearing the highest level since September 30. Silver also climbed 2.3 per cent to $22.79 an ounce.

On the domestic front, gold of 99.9 and 99.5 per cent purity surged by Rs 305 each to Rs 31,930 and Rs 31,730 per ten gram, respectively, while sovereign held steady at Rs 25,300 per piece of eight gram.

In a similar fashion, silver ready surged by Rs 1,190 to Rs 50,200 per kg and weekly-based delivery by Rs 700 to Rs 50,000 per kg. However, silver coins held steady at Rs 87,000 for buying and Rs 88,000 for selling of 100 pieces.