Gold extends gains; up Rs 110 on marriage season demand

New Delhi, Feb 16 (PTI) Gold rose further for the secondday by adding Rs 110 to Rs 20,680 per 10 grams in the nationalcapital today on increased buying by stockists and jewellers,driven by the ongoing marriage season, amid firm globaltrends.

On the other hand, after moving in a tight rangein the absence of worthwhile activity, silver ended steady onits previous level of Rs 46,500 per kg.

Also, sentiments for the yellow metal turned bullish,after it climbed to a four-week high in global markets onspeculation that rising inflation will spur demand for themetal as an alternative asset.

Gold in global markets gained 0.3 per cent to USD1,377.25 an ounce.

On the domestic front, gold of 99.9 and 99.5 per centpurity remained in demand and advanced by another Rs 110 eachto Rs 20,680 and Rs 20,570 per 10 grams, respectively. Themetal had gained Rs 80 yesterday.

Sovereign remained steady at Rs 16,900 per piece of eightgrams on lack of buying support.

On the other hand, silver ready held steady at Rs 46,500per kg, while silver weekly-based delivery strengthened byRs 140 to Rs 46,340 per kg.

However, silver coins were unaltered at Rs 54,000 forbuying and Rs 54,100 for selling of 100 pieces.