Gold, silver prices rise on increased offtake

Gold prices rose marginally by Rs 20 to Rs 33,740 per 10 gm at the bullion market in the national capital on Wednesday, while silver surged by Rs 130 to Rs 38,350 per kg, according to the All India Sarafa Association.

Traders said increased offtake by industrial units and coin makers mainly pushed up silver prices.

Globally, spot gold was trading lower at USD 1,343 an ounce, while silver was down at USD 15.01 an ounce in New York.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity advanced by Rs 20 each to Rs 33,740 and Rs 33,570 per 10 gram, respectively.

Sovereign gold, however, held steady at Rs 26,800 per eight gram.

On Tuesday, gold rose by Rs 100 to Rs 33,720 per 10 gram.

Meanwhile, silver ready rose by Rs 130 to Rs 38,350 per kg, while weekly-based delivery gained Rs 46 to Rs 37,302 per kg.

Price of silver coins held flat at Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.