Gold rises for 3rd day, surges Rs 335 to Rs 32,835

Extending its gains for the third straight session, gold prices Thursday surged by Rs 335 to Rs 32,835 per 10 gram at the bullion market in the national capital, amid weaker rupee against dollar, according to the All India Sarafa Association.

Silver, too, followed gold by gaining Rs 350 to Rs 39,700 per kg due to increased demand from industrial units and coin makers.

On Tuesday and Wednesday, gold prices gained by Rs 200 and Rs 30, respectively.

Traders said weaker rupee against dollar and safe haven buying contributed the surge in the prices of the yellow metal.

Besides, firm trend overseas helped the rise in gold prices, they added.

In Delhi, prices of gold of 99.9 per cent and 99.5 per cent purities gained Rs 335 each to Rs 32,835 per 10 gram and Rs 32,685 per 10 gram, respectively.

Sovereign gold, however, remained unchanged at Rs 25,200 per piece of 8 gram.

Globally, gold prices traded higher at USD 1290.82 an ounce, while silver was up at USD 15.55 an ounce in New York.

Silver ready advanced Rs 350 to Rs 39,700 per kg and weekly-based delivery witnessed a rise of Rs 617 to Rs 39,365 per kg.

Silver coins, however, remained unchanged at Rs 76,000 for buying and Rs 77,000 for selling of 100 pieces.