Gold rises further to Rs 22,645 on global cues

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New Delhi, Jul 11: Gold advanced further today by Rs 75 to Rs 22,645 per 10 grams on sustained buying, amid an improving global trend, but silver fell by Rs 130 to Rs 54,570 per kg on reduced offtake at prevailing high levels.

Traders said sustained buying in gold by stockists and reports of better trend overseas mainly led to a rise in the metal prices.

However, reduced offtake by industrial units at prevailing high levels mainly reduced silver prices, they said.

Gold in global markets, which normally sets the price trend on domestic front, traded higher by 0.04 per cent to USD 1,544.80 an ounce.

On the domestic front, gold of 99.9 and 99.5 per cent purity rose by Rs 75 each to Rs 22,645 and Rs 22,525 per 10 grams, respectively, while sovereigns held steady at Rs 18,700 per piece of eight grams. Gold had gained Rs 185 in the previous session.

On the other hand, silver ready fell by Rs 130 to Rs 54,750 per kg and weekly-based delivery by a same margin to Rs 54,570 per kg.

Silver coins continued to be asked at previous level of Rs 62,000 for buying and Rs 63,000 for selling of 100 pieces.

PTI

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