Gold went up by Rs 25 to Rs 10,215 per ten gram on the bullion market on emergence of buying by retail customers for the ongoing marriage season.The precious metal was also boosted by firming global trend as weak dollar and spiraling crude prices raised the demand for gold as a safe investment.
Silver followed suit and recorded fresh gains on better offtake by industrial users and coins manufacturers. Marketmen said increased buying by jewellery fabricators and local parties to meet the ongoing marriage season demand.Global trend which normally set a price band in domestic market, placed the metal higher at $790.60 an ounce against previous level of $789.90. Standard gold and ornaments attracted fresh buying support and gained Rs 25 each at Rs 10,215 and Rs 10,065 per 10 grams respectively.
Sovereign followed suit and traded higher at Rs 8,525 from Rs 8,500 per piece of eight gram. Similarly fashion, silver ready shot up by Rs 70 at Rs 19,050 per kg while weekly-based delivery rose by Rs 110 at Rs 19,060 per kilo.Silver coins also met with heavy demand from coin makers and traded higher by Rs 300 at Rs 24,900 for buying and Rs 25,000 for selling of 100 coins.
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