Gold prices jump by Rs175 on jewellers’ buying

New Delhi-India (Dec 28)  Gold prices rallied Rs175 to Rs30,250 per 10 grams on Thursday, largely on positive global cues and increased buying by local jewellers, marking the rise for the fifth straight day. Silver prices gained Rs250 to Rs39,500 per kg on the back of increased offtake by industrial units and coin makers.

Traders said the sentiment was positive because of overseas trends where gold prices rose to their highest level in one month in a light holiday trade as the dollar fell to a four-week low. Globally, gold rates rose 0.33% to $1,291.10 an ounce and silver by 0.54% to $16.75 an ounce in Singapore.

In the national capital, gold of 99.9% and 99.5% purity jumped by another Rs175 each to Rs30,250 and Rs30,100 per 10 grams, respectively. It had gained Rs390 in the previous four sessions. Sovereign, however, remained unchanged at Rs24,700 per piece of eight grams.

Tracking gold, silver ready strengthened by Rs250 to Rs39,500 per kg and weekly-based delivery by Rs510 to Rs38,850 per kg. Silver coins, however, held steady at Rs72,000 for buying and Rs73,000 for selling of 100 pieces.

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