Gold regains 30k level on strong global cues
Gold regained the psychological Rs 30,000 per ten gram level after three weeks in the national capital on monday on brisk buying by stockists
New Delhi: Gold regained the psychological Rs 30,000 per ten gram level after three weeks in the national capital on monday on brisk buying by stockists for the ongoing wedding season amid firming global trend.
Gold surged by Rs 220 to Rs 30,200, a level last seen on March 24, and silver by Rs 150 to Rs 43,900 per kg on increased off take by industrial units and coin makers.
Traders said brisk buying by stockists for the ongoing wedding season mainly led an upsurge in precious metal prices.
They said firming global trend, as tension escalated in Ukraine, boosting demand for a haven also influenced the sentiment.
Gold in Singapore, which normally sets price trend on the domestic front, rose by 0.9 per cent to USD 1,329.92 an ounce, the highest since March 24 and silver by 0.5 per cent to USD 20.09 an ounce.
On the domestic front, gold of 99.9 and 99.5 per cent purity shot up by Rs 220 each to Rs 30,200 and Rs 30,000 per ten gram respectively, a level last seen on March 24.
Sovereign, however, held steady at Rs 25,000 per piece of eight gram.
Silver ready also advanced by Rs 150 to Rs 43,900 per kg while weekly-based delivery held steady at Rs 43,180 per kg, while silver coins ruled flat at Rs 82,000 for buying and Rs 83,000 for selling of 100 pieces.