Gold shines on jewellers' buying, firm global cues

Gold prices on Thursday rose by Rs 70 to Rs 32,100 per 10 gram at the bullion market amid sustained buying by local jewellers amid firm global cues. Silver, however, fell by Rs 50 to Rs 39,350 per kg due to reduced offtake by industrial units and coin makers.

Continued buying by local jewellers and positive global cues, mainly kept gold higher, traders said.

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In the global market, buoyed by upbeat US economic data, gold rose by 0.10 per cent to $1,198.06 an ounce in Singapore Thursday.

In Delhi, gold of 99.9 and 99.5 per cent purity advanced by Rs 70 each to Rs 32,100 and Rs 31,950 per 10 gram, respectively. On Wednesday, it had gained Rs 555 Wednesday.

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Sovereign gold, however, traded steady at Rs 24,600 per piece of 8 gram. Silver ready fell by Rs 50 to Rs 39,350 per kg, while weekly-based delivery dipped by Rs 35 at Rs 38,945 per kg. Silver coins, however, remained unchanged at Rs 73,000 for buying and Rs 74,000 for selling of 100 pieces.

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