Global cues, local buying push gold prices further up by Rs 200 

Gold price rose Rs 200 to Rs 30,550 per 10 grams in the bullion market. - Sakshi Post

New Delhi: Gold prices on Friday rose for the second straight day, gaining Rs 200 to Rs 30,550 per 10 grams in the bullion market. A firm global trend and persistent buying by jewellers at the domestic spot market are main triggers for the price rise.
Silver too continued its rising streak for the fourth day in a row and reclaimed Rs 44,000 per kg mark by surging Rs 1,300 to Rs 44,600 per kg on increased offtake from industrial units and coin makers.
Analysts said the firming global trend where gold climbed on speculation that central banks would support their economies in the wake of Britain’s vote to quit the European Union (EU) buoyed sentiment here.

Globally, gold added 0.8 per cent to $1,332.17 an ounce, while silver rose 3.6 per cent to $19.39 in Singapore.
Besides, increased buying by jewellers at domestic spot market supported the upside, said a commodity analyst. In the national capital, gold of 99.9 per cent and 99.5 per cent purity climbed by Rs 200 each to Rs 30,550 and Rs 30,400 per 10 grams respectively.
The metals had gained Rs 100 on Thursday.

Sovereign also moved up by Rs 100 to Rs 23,400 per piece of eight grams. Tracking gold, silver ready rallied by Rs 1,300 to Rs 44,600 per kg and weekly-based delivery by Rs 2,220 to trade at Rs 45,170 per kg. Silver coins, however, held steady at Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces.
Source: PTI



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