Gold rallies more, climbs Rs 175 on jewellers' buying

Gold prices rallied Rs 175 to Rs 30,250 per 10 grams today, largely on positive global cues, marking the rise for the fifth straight day.
Increased buying by local jewellers helped.
Silver followed suit and gained Rs 250 to Rs 39,500 per kg on the back of increased offtake by industrial units and coin makers.
Traders said sentiment was positive because of overseas trend where gold prices rose to their highest level in one month in a light holiday trade as the dollar fell to a four- week low.
Globally, gold rose 0.33 per cent to USD 1,291.10 an ounce and silver by 0.54 per cent to USD 16.75 an ounce in Singapore.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity jumped by another 175 each to Rs 30,250 and Rs 30,100 per 10 grams, respectively. It had gained Rs 390 in the previous four sessions.

Sovereign, however, remained unchanged at Rs 24,700 per piece of eight grams.
Tracking gold, silver ready strengthened by Rs 250 to Rs 39,500 per kg and weekly-based delivery by Rs 510 to Rs 38,850 per kg.
Silver coins, however, held steady at Rs 72,000 for buying and Rs 73,000 for selling of 100 pieces.