Gold rises on firm trend overseas

Gold prices edged up by Rs 30 to Rs 32,500 per 10 gram at the bullion market here Wednesday due to a firm trend overseas.

Similarly, silver gained Rs 100 to Rs 39,350 per kg on increased demand from industrial units and coin makers.

Bullion traders said positive global cues and marginal demand from local jewellers led to the rise in gold prices.

On Tuesday, gold shot up by Rs 400 per 10 gram.

Globally, gold rose to USD 1,286.57 an ounce, while silver held steady at USD 15.45 an ounce in New York.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity rallied by Rs 30 each to Rs 32,500 per 10 gram and Rs 32,350 per 10 gram, respectively.

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

Silver ready advanced by Rs 100 to Rs 39,350 per kg and weekly-based delivery saw a mild rise of Rs 23 to Rs 38,748 per kg.

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