Gold up by Rs 80 on global cues, silver rises by Rs 750

New Delhi, Jan 11: Snapping a three-day losing string, gold today rose by Rs 80 to Rs 27,990 per 10 grams on revival of buying at existing low levels fuelled by firming global cues. Silver also rose by Rs 750 to Rs 52,750 per kg on increased offtake by industrial units and coin-makers.

Traders said revival of buying by stockists and jewellers for the coming marriage season amid firming global trend, mainly pushed up both gold and silver prices. In Singapore, gold gained 0.7 per cent to USD 1,643.82 an ounce, the highest level since December 13.

On the domestic front, gold of 99.9 and 99.5 per cent purity rebounded by Rs 80 each to Rs 27,990 and Rs 27,850 per 10 grams, respectively. It had lost Rs 355 in last three sessions.

However, sovereigns held steady at Rs 23,300 per piece of eight grams in scattered deals. In line with a general firming trend, silver ready surged by Rs 750 to Rs 52,750 per kg and weekly-based delivery by Rs 730 to Rs 52,765 per kg. Silver coins also spurted by Rs 2,000 to Rs 60,000 for buying and Rs 61,000 for selling of 100 pieces.

PTI