Gold maintains upward trend on global cues

Gold prices rose for the fifth session in a row, by gaining Rs 100 to Rs 31,150 per ten gram today, supported by a firm global trend and wedding season demand from jewellers.
Silver also retook the Rs 44,000-level by rising Rs 350 to Rs 44,050 per kg following a uptick in demand from coin makers and industrial units.
Bullion traders said sentiment remained bullish backed by a firming global trend amid sustained buying by jewellers at domestic spot market, driven by ongoing wedding season.
Globally, gold rose by 0.14 per cent to USD 1,304.00 an ounce and silver by 0.44 per cent to USD 18.41 an ounce in New York in yesterday's trade.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity advanced by another Rs 100 each to Rs 31,150 and Rs 31,000 per 10 grams, respectively. The precious metal had gained Rs 400 in the previous four sessions.
Sovereign, however, remained unaltered at Rs 24,600 per piece of eight grams in limited deals.
Tracking gold, silver ready also surged by Rs 350 to Rs 44,050 per kg and weekly-based delivery by Rs 270 to Rs 43,395 per kg.
Silver coins too spurted by Rs 1,000 to Rs 76,000 for buying and Rs 77,000 for selling of 100 pieces.