Gold rises marginally

Gold prices continued to rule firm for the fifth trading session on sustained safe-haven buying due to fall in equity prices.

Marketmen said sustained buying by jewellery makers and retailers in view of ongoing marriage season and weak equity market pushed up both the metal prices.

Standard gold (99.5 purity) firmed up further by Rs 30 per 10 gm to Rs 12,015 from Rs 11,985 yesterday. Pure gold (99.9 purity) also moved up by Rs 40 per 10 gm to Rs 12,080 from Rs 12,040.

Spot gold was trading at $736.05 an ounce versus $736.35 an ounce in New York on Tuesday.

 

Silver prices bounced back on the bullion market here on Wednesday on renewed industrial demand.

In the local market, silver ready (.999 fineness) recovered by Rs 105 a kg to Rs 16,800 from Rs 16,695 previously.