Gold up by Rs 75, silver by 380 on firm global cues

Both the precious metals, gold and silver, gained in the national capital today on increased buying by stockists driven by a firming global trend.
While gold added Rs 75 to Rs 27,425 per 10 grams, silver rose by Rs 380 to Rs 44,500 per kg on fresh buying by industrial units and coin makers.
Traders said the precious metal were back in positive mood on stockists buying on a firming global trend as a weaker dollar increased demand for an alternative investment. Silver also climbed.
Gold in London, which normally sets the price trend on the domestic front here, rose 0.8 per cent to USD 1,398.55 an ounce and silver by 0.9 per cent to USD 22.48 an ounce.

They said besides, investors shifting their funds from melting equities and weakening rupee to bullion for quick gains.
Gold of 99.9 and 99.5 per cent purity rose by Rs each 75 to Rs 27,425 and Rs 27,225 per 10 grams, respectively. Sovereigns held steady at Rs 24,000 per piece of eight grams.
Silver ready shot up by Rs 380 to Rs 44,500 per kg and weekly-based delivery by 240 to Rs 43,740 per kg. Silver coins continued to be asked at last level of rs 77,000 for buying and Rs 78,000 for selling of 100 pieces.