Gold rises tracking firm trend overseas, silver also advances by Rs 170

Extending the upward trend, gold prices Tuesday gained marginally by Rs 25 to Rs 34,475 per 10 gram at the bullion market in the national capital, tracking firm trend overseas, according to All India Sarafa Association. Silver advanced by Rs 170 to Rs 41,700 per kg on increased off take from industrial units and coin makers.

Traders said, with local demand remaining flat, firm trend overseas influenced the sentiment, leading to marginal increase in the prices of yellow metal.

Globally, gold traded higher at USD 1,315.33 an ounce while silver stood at USD 15.88 an ounce in New York. On Monday, gold had surged by Rs 340. In the national capital, gold of 99.9 per cent and 99.5 per cent purities advanced by Rs 25 each to Rs 34,475 and Rs 34,325 per 10 gram, respectively.

Also Read | TV subscription bill may go up for most users, here’s why

However, sovereign gold held steady at Rs 26,100 per piece of eight gram. Silver ready gained by Rs 170 to Rs 41,700 per kg, while weekly-based delivery was up by Rs 208 to Rs 40,645 per kg.

On other hand, silver coins held flat at Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.