 "Marriage season spikes gold prices, silver falls on sluggish demand")
New Delhi: Gold rose by Rs 35 to Rs 29,240 per 10 grams on buying by retailers for the ongoing marriage season, however, silver lost Rs 550 to Rs 55,850 per kg as industrial units refrained from purchasing at costly levels and preferred waiting for more correction.
Traders said sentiment in gold remained firm on rising demand from retailers even as the metal in overseas markets declined 0.5 per cent to USD 1,715.03 an ounce.
The current upsurge in gold was purely on heavy demand for the ongoing marriage season, they said.
The gold of 99.9 and 99.5 per cent purity advanced by Rs 35 each at Rs 29,240 and Rs 29100 per 10 grams, respectively.
The precious metal had gained Rs 115 in the previous session.
On the other hand, silver ready fell by Rs 550 to Rs 55,850 per kg and weekly-based delivery by Rs 675 to Rs 55,185 per kg on lack of support. The silver had shot up by Rs 1,325 on Saturday.
Silver coins continued to be asked at previous level of Rs 63,000 for buying and Rs 64,000 for selling of 100 pieces.
PTI
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