Gold extends gain on strong global cues

Extending its gains for the second straight day, gold prices today added Rs 180 to close at Rs 14,900 per ten gram in the bullion market here on sustained buying by stockists and jewellers for the current marriage season amid firming overseas trend.

Marketmen said buying activity picked up among jewellery fabricators for the current marriage season. The uptrend was further buoyed as its prices surged to three-week high in London, they said.

Silver also joined the firming trend and recorded a handsome gain of Rs 600 to Rs 21,600 per kg.

Standard gold and ornaments spurted further by Rs 180 each to Rs 14,900 and Rs 14,750 per ten gram respectively and sovreign gained Rs 50 at Rs 12,450 per piece of eight gram.

 

A similar firming trend was extended to silver on the back of firming trend in global market and emergence of industrial units buying. Silver ready surged by Rs 600 to Rs 21,600 and weekly-based delivery by Rs 610 to Rs 21,300 per kg. Its coins rose by Rs 200 to Rs 28,200 for buying and Rs 28,300 for selling of 100 pieces.