Gold advances further on seasonal demand

Gold prices advanced further for the second consecutive day on the bullion market here today on persistent seasonal demand coupled with stockists buying on the back of higher New York advices.

Silver prices also moved up further in line with gold prices. Ongoing marriage season mainly pushed up the prices of precious metals.

Gold futures rose above $920 an ounce in the New York market yesterday for a second straight session as investors shrugged off gloomy sentiment that had dampened buying interest.

Gold for April delivery rose by $13.30 an ounce to end at $924 an ounce on the Comex division of the New York Mercantile Exchange. Silver for May delivery rose to $12.943 an ounce.

Turning to the local market, Standard gold (99.5 purity) moved up further by Rs 65 per ten grams to Rs 15,225 from yesterday's closing level of Rs 15,160.

Pure gold (99.9 purity) also looked up to Rs 15,290 from Rs 15,225 previously.

Silver ready (.999 fineness) firmed up by Rs 50 per kilo to Rs 22,215 from Rs 22,165.