Gold rises by Rs 50, silver by Rs 150 on firm demand

New Delhi, Jan 16: Both gold and silver rose in the bullion market here today on fresh buying by stockists and jewellers to meet the marriage season demand amid a firming global trend. While gold rose by Rs 50 to Rs 27,890 per 10 grams, silver added Rs 150 to Rs 52,150 per kg.

Traders said fresh buying by stockists and jewellers to meet the marriage season demand in tandem with a firming global trend, led to the rise in precious metal's prices. In Singapore, gold rose by USD 4.30 to USD 1,644 an ounce and silver gained 0.07 per cent to USD 29.79 an ounce.

On the domestic front, gold of 99.9 and 99.5 per cent purity rose by Rs 50 each to Rs 27,890 and Rs 27,750 per 10 grams, respectively. Sovereign held steady at Rs 23,300 per piece of eight grams on scattered deals.

Silver ready rose by Rs 150 to Rs 52,150 per kg on increased offtake by jewellers and industrial units, while weekly-based delivery added Rs 105 to Rs 52,250 per kg. Silver coins continued to be asked at previous level of Rs 58,000 for buying and Rs 59,000 for selling of 100 pieces.

pti