Gold gains Rs 50 to Rs 31,800 per 10 gms, Silver up Rs 400

SME News, Thursday, Oct 11, 2012 17:34:18 PM IST

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NEW DELHI: Tracking the two consecutive gains, Gold today up by Rs 50 to Rs 31,800 per 10 grams in the bullion trade for the third day, while silver gained Rs 400 to Rs 61,400 per kg on increased offtake on the back of seasonal buying amid strong global cues.

According to traders, the stockists and retailers increased positions for the coming festivals as well as wedding season, leading to the rise in gold prices. Silver also witnessed increased demand from industrial units and coin makers.

In London, gold up by 0.4 per cent to $1,770 an ounce, while silver gained 0.8 per cent to $34.25 an ounce.

On the domestic front, gold of 99.9 and 99.5 per cent purity added Rs 50 each to Rs 31,800 and Rs 31,600 per 10 grams, respectively. The metal had gained Rs 270 in the last session.

Silver coins gained by Rs 1,000 to Rs 77,000 for buying and Rs 78,000 for selling of 100 pieces.

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