Gold Shines On Firm Global Trend

Gold prices ruled higher by Rs 50 at Rs 10,310 per 10 gram in the bullion market in New Delhi on Wednesday on sustained buying.This is for the second day in a row prices have gained. On Tuesday, the prices were up by Rs 55 per 10 gram.

A steep rise in global bullion markets, where gold rose above $800 an ounce, boosted the trading sentiment in domestic markets.Standard gold and ornaments rose by Rs 50 each at Rs 10,310 and Rs 10,160 per 10 gram respectively. Sovereign was also higher by Rs 50 at Rs 8,675 per piece of eight gram.

Silver ready also rose by Rs 15 at Rs 18,470 per kilo and weekly-based delivery by Rs 134 at Rs 18,670 per kilo as speculators turned active on expectations of a more rise in silver prices.Silver coins shot up by Rs 100 at Rs 25,000 for buying and Rs 25,100 for selling of 100 pieces.The precious metal in London traded at around $803 an ounce from previous level of $793, following a rebound in dollar against leading currency.