Gold on unabated upward march, adds another Rs 150

Gold prices continued to rise for the fourth straight session by adding Rs 150 to Rs 14,670 per 10 gram in the national capital on sustained buying by jewellers to meet the current marriage season demand amid firming Asian trend. Silver also surged by Rs 450 to Rs 21,400 per kg.

Buying activity remained as earlier as the metal prices strengthened further in Asia, a major driving force for gold, on speculation that the stimulus package might control deepening world economic crisis. Demand rose due to the current marriage season as well.

Silver also attracted brisk buying support from stockists and industrial units and recorded a gain of Rs 450 to Rs 21,400 per kg.

In Asian, gold gained 0.6 per cent to $898.92 an ounce.

Standard gold and ornaments, which had gained Rs 135 each in last three tradings, added another Rs 150 each to Rs 14,670 and Rs 14,520 per 10 gram respectively. Sovreign also gained by Rs 100 to Rs 12,400 per piece of eight gram.

Silver ready rose by Rs 450 to Rs 21,400 per kg and weekly-based delivery by Rs 400 to Rs 21,100 per kg. Silver coins gained Rs 200 to Rs 28,100 for buying and Rs 28,200 for selling of 100 pieces.