Gold prices jump Rs 230 on positive global cues

Gold prices Tuesday rose Rs 230 to Rs 34,680 per 10 gram at the bullion market in the national capital on firm trend overseas, according to the All India Sarafa Association.

Besides, silver rose by Rs 100 to Rs 41,350 per kg, supported by increased offtake by industrial units.

Traders said firm trend overseas influenced the sentiment in the domestic market leading to advancement in the prices of the yellow metal.

However, subdued demand from local jewellers capped the gain in the gold prices, they added.

Globally, gold was trading higher at USD 1,323.30 an ounce, while silver was up at USD 15.75 an ounce.

On Monday, the Delhi bullion market remained closed in the wake of a terror attack on Central Reserve Police Force (CRPF) personnel.

In the national capital, gold of 99.9 per cent and 99.5 per cent purities jumped by Rs 230 each to Rs 34,680 and Rs 34,530 per 10 gram, respectively.

Sovereign gold, on the other hand, continued to rule flat at Rs 26,400 per piece of 8 gram.

Silver ready advanced by Rs 100 to Rs 41,350 per kg and and weekly-based delivery climbed Rs 215 to Rs 40,177 per kg.

Silver coins were also in good demand and traded higher by Rs 1,000 at Rs 82,000 for buying and Rs 83,000 for selling of 100 pieces.