Gold extends gain for third day, up Rs 75

Gold prices extended gains for the third straight day today by adding Rs 75 to Rs 28,340 per 10 gram in the national capital on sustained buying amid the  the wedding season, traders said.

However, silver held steady at Rs 58,500 per kg in restricted buying from industrial units and coin makers.

Shifting of funds from the weakening equity markets to rising bullion also supported the uptrend in gold.

Gold of 99.9 and 99.5% purity advanced by Rs 75 each to Rs 28,340 and Rs 28,200 per 10 gram, respectively. The metal had gained Rs 125 in last two trading sessions, while sovereign remained steady at Rs 23,500 per piece of 8 gram.

On the other hand, silver ready held steady at Rs 58,500 per kg while weekly-based delivery rose by Rs 75 to Rs 59,825 per kg. Silver coins continued to be around previous level of Rs 73,000 for buying and Rs 74,000 for selling of 100 pieces.