Gold, silver extend gains on strong global cues

Gold prices surged Rs 365 to Rs 27,415 per ten grams in the national capital today on sustained buying by stockists and a firm global trend.
Silver followed suit and gained Rs 580 to Rs 44,880 per kg on increased offtake by industrial units and coin makers.
Traders said sentiment remained firm as gold rose in global markets. Buying by central banks and signs of increased physical demand also countered outflows in investor holdings.
Gold in Singapore, which normally set price trend on the domestic front, gained 0.5 per cent to USD 1,393.63 an ounce and silver by 0.9 per cent to USD 22.58 an ounce.

On the domestic front, gold of 99.9 and 99.5 per cent purity surged by Rs 365 each to Rs 27,415 and Rs 27,215 per ten grams, respectively.
The yellow metal had gained Rs 100 in the previous session. Sovereign followed suit and rose by Rs 100 to Rs 23,800 per piece of eight grams.
In line with a general firm trend, silver ready advanced by Rs 580 to Rs 44,880 per kg and weekly-based delivery by Rs 120 to Rs 43,595 per kg. The white metal had gained Rs 300 in last two sessions.
Silver coins also spurted by Rs 1,000 to Rs 76,000 for buying and Rs 77,000 for selling of 100 pieces.