Gold gains Rs 130, silver Rs 200 on low-level buying

Gold rose by Rs 130 to Rs 31,080 per 10 grams in the bullion market here today, while silver added Rs 200 to Rs 58,200 per kg on buying by retailers and stockists at existing lower levels amid firm global cues. In the previous two trading sessions, gold had lost Rs 550 and silver Rs 2,240.

Traders said buying for the festival and wedding season following a decline in precious metals’ prices in the previous sessions pushed up the prices. A firm trend overseas, where gold rose from a nine-week low, also influenced the sentiments, they added. In New York, gold rose 0.4 per cent to USD 1,683.90 an ounce.

Back home, gold of 99.9 and 99.5 per cent purity rose by Rs 130 to Rs 31,080 and Rs 30,880 per 10 grams, respectively. Sovereign gained Rs 40 to Rs 25,450 per piece of eight grams.

Silver ready rose by Rs 200 to Rs 58,200 per kg and weekly-based delivery by Rs 265 to Rs 57,900 per kg. Silver coins shot up by Rs 1,000 to Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.