Gold, silver prices increased on Festive season 

Gold prices increased by Rs 210 to Rs 27,280 per ten grams at the bul­lion mar­ket here today fol­low­ing sus­tained buy­ing by stock­ists on pick-up in sea­son­al demand. How­ev­er, a weak trend in glob­al mar­ket as the dol­lar advanced towards a four-year high reduc­ing demand for an alter­na­tive invest­ment, capped the rise. Sil­ver also record­ed a sig­nif­i­cant rise of Rs 960 to Rs 39,250 per kg on increased off­take by indus­tri­al units and coin makers.

Bul­lion mer­chants said sus­tained buy­ing by jew­ellers as well as stock­ists on the back of pick-up in sea­son­al demand main­ly led to the rise in gold and sil­ver prices.

Besides, diver­sion of funds from equi­ty mar­kets towards bul­lion also sup­port­ed the upside in pre­cious met­al prices, they said.

Glob­al­ly, gold in Sin­ga­pore rose as much as 0.4 per cent to USD 1,203.02 an ounce and sil­ver gained 0.3 per cent to USD 17.39 an ounce.

In the nation­al cap­i­tal, gold of 99.9 and 99.5 per cent puri­ty shot up by Rs 210 each to Rs 27,280 and Rs 27,080 per ten grams, respec­tive­ly. It had gained Rs 40 yesterday.

Sov­er­eign also found some buy­ing sup­port and prices were up by Rs 50 to Rs 24,150 per piece of eight grams.

Track­ing gold, sil­ver ready rose fur­ther by Rs 960 to Rs 39,250 per kg and week­ly-based deliv­ery by Rs 735 to Rs 38,625 per kg.

Sil­ver coins remained in demand and rose by anoth­er Rs 1,000 to Rs 68,000 for buy­ing and Rs 69,000 for sell­ing of 100 pieces.

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