Gold edges up, silver posts huge gains on firm trend overseas

Yelllow metal adds Rs 50 per 10 grams in NCR, Silver up by Rs 300 a kg on higher offtake at home

Gold prices edged higher by Rs 50 to Rs 28,350 per 10 grams today, tracking a firm trend overseas amid scattered buying by local jewellers.

Silver also recovered by Rs 300 to Rs 39,600 per kg due to increased offtake by industrial units and coin makers.

Apart from a firm global trend, traders said, mild buying by local jewellers at the domestic spot market mainly brought about the upmove.

Globally, gold rose 0.50 per cent to $1,156.70 an ounce in Singapore.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity were up by Rs 50 each to Rs 28,350 and Rs 28,200 per 10 grams, respectively.

Sovereign, however, remained flat at Rs 24,000 per piece of eight grams in limited deals.

Silver ready rebounded by Rs 300 to Rs 39,600 per kg and weekly-based delivery by Rs 345 to Rs 39,540 per kg.

Silver coins, however, were unaltered at Rs 70,000 for buying and Rs 71,000 for selling of 100 pieces.