Gold prices rise for 2nd day on jewellers' buying

Extending its gains for the second straight day, gold prices rose by another Rs 100 to Rs 28,450 per ten gram in the national capital today on pick up in demand from jewellers even as the metal weakened overseas.
Silver, however, met with resistance and declined by Rs 350 to Rs 38,000 per kg.
Traders said some buying by jewellers and retailers in view of ongoing wedding season mainly influenced gold prices but a weak global trend as investors weighed prospects of higher US interest rates, limited the gains.
Globally, gold in Singapore traded 0.3 per cent down at USD 1,280.58 an ounce and silver shed 0.5 per cent at USD 17.16 an ounce.

In Delhi, gold of 99.9 and 99.5 per cent purity were up by Rs 100 each to Rs 28,450 and Rs 28,250 per ten gram respectively. It had gained Rs 250 in the previous session on Saturday.
Sovereign remained flat at Rs 24,000 per piece of 8 grams.
On the other hand, silver ready declined by Rs 350 to Rs 38,000 per kg and weekly-based delivery by Rs 185 to Rs 37,950 per kg.
Meanwhile, silver coins maintained a steady trend at Rs 63,000 for buying and Rs 64,000 for selling of 100 pieces.