Gold jumps by Rs 290 on global cues, wedding season demand

Gold prices jumped by Rs 290 to regain the Rs 26,000-level at the bullion industry on Saturday on the back of a company trend overseas and pick-up in purchases by jewellers to meet wedding ceremony season demand

Gold rates jumped by Rs 290 to regain the Rs 26,000-level at the bullion industry on Saturday on the back of a company trend overseas and select-up in purchases by jewellers to meet wedding season demand.

However, silver remained weak and misplaced Rs 200 at Rs 33,850 per kg on lowered off-get by industrial units and coin makers.

Bullion traders attributed the rally in treasured metals to a firm trend overseas and fresh purchasing by jewellers to meet the ongoing wedding ceremony season demand.

Also read:Gold charges increase by Rs 115, costs Rs 27,300 now!

Gold costs in New York, which generally decide price trend on the domestic front, rose by .25% to $1,074.twenty (Rs 72,131.94) an ounce in Friday's trade.

In the national capital, gold of 99.9 and 99.five% purity zoomed by Rs 290 every single to Rs 26,000 and Rs 25,850 per 10 grams, respectively.

The valuable metal had misplaced Rs 130 in prior two days.

Sovereign, nevertheless, remained steady at Rs 22,200 per piece of hong kong wedding planner eight grams in constrained deals.

Also read:Gold costs plunge by Rs 70 to Rs 26,800, low demand

On the other hand, silver prepared dipped under Rs 34,000 by shedding Rs 200 to Rs 33,850 per kg and weekly-primarily based delivery was down by Rs 265 to Rs 33,980 per kg.

Meanwhile, silver coins continued to be traded at last level of Rs 48,000 for purchases and Rs 49,000 for promoting of one hundred pieces.

http://www.dnaindia.com/money/report-gold-jumps-by-rs-290-on-global-cues-wedding ceremony-season-demand-2154863