Gold extends gains for 4th day, up by Rs 110 at Rs 33,300/10g

Gold prices on Thursday rose by Rs 110 per grams to advance the gaining streak for the fourth straight day at the bullion market here on increased demand from local jewellers, according to the All India Sarafa Association.

Silver, however, declined by Rs 300 to Rs 40,200 per kg on subdued demand from industrial units and coin makers.

Gold of 99.9 per cent and 99.5 per cent purities advanced by Rs 110 each to Rs 33,300 per 10 grams and Rs 33,150 per 10 grams, respectively.

Sovereign gold too rose by Rs 100 to Rs 25,500 per piece of eight grams.

Traders said gold prices firmed up in line with positive global cues. Gold traded higher at USD 1,292.55 an ounce while silver stood at USD 15.57 an ounce in New York. The precious metal firmed up by 0.44 per cent to SGD 1,754 per ounce.

In the previous three days, gold prices went up by Rs 315.

Silver ready declined by Rs 300 to Rs 40,200 per kg, while weekly-based delivery dropped Rs 143 to Rs 39,690 per kg.

Silver coins, however, held flat at Rs 77,000 for buying and Rs 78,000 for selling of 100 pieces.