Gold hits new high of Rs 32,975/10 gm

Increased demand in view of the ongoing marriage season and firm global trend lifts prices

Gold prices rose by Rs 25 to set a new record of Rs 32,975 per 10 gm here today on brisk seasonal buying amid firming global trend.

On the domestic front, gold of 99.9 and 99.5% purity advanced by Rs 25 each to Rs 32,975 and Rs 32,775 per 10 gm, respectively, the levels never seen before.

Sovereign followed suit and rose by Rs 50 to Rs 25,700 per piece of eight gram.

Gold prices gained Rs 575 in the last five trading sessions on brisk buying by stockists and retail customers for the ongoing marriage season.

Traders said gold prices improved on increased demand in view of the ongoing marriage season and lifted the prices to another record high.

 

A firming global trend further supported the prices, they said.

Global prices, which normally set the price trend on the domestic front, advanced 0.2% to $1,751.80 an ounce in Singapore.

Silver prices declined by Rs 200 to Rs 63,000 per kg.

Silver lacked necessary buying support from industrial units and declined by Rs 200 to Rs 63,000 per kg while weekly-based delivery moved up by Rs 230 to Rs 64,090 per kg on speculators buying.

Silver coins remained steady at Rs 81,000 for buying and Rs 82,000 for selling of 100 pieces in restricted deals at prevailing higher levels.