Gold crosses Rs 33,000-mark per 10 gram on weak rupee, firm overseas trend; silver rises Rs 410 as local demand up

New Delhi: Gold rose for the fourth straight session on Thursday crossing the Rs 33,000-mark at Rs 33,070 per 10 gram, gaining Rs 270 at the bullion market here due to increased demand from local jewellers, according to All India Sarafa Association. Silver also followed the gold movement by rising Rs 410 to Rs 40,510 per kg on fresh buying by industrial units and coin makers. [caption id=“attachment_3912035” align=“alignleft” width=“380”] Representational image. Reuters.[/caption] Traders said with the rupee hovering around Rs 70 against dollar, the gold was in demand as a safe haven to mitigate the risk and support from local jewellers aided the gain in the prices of yellow metal. Besides, firm trend overseas helped the rise in the gold prices, they added. Globally, gold traded higher at $1,294.97 an ounce and silver rose to $15.74 an ounce in New York. The yellow metal rose Rs 300 in the previous three days In the national capital, gold of 99.9 per cent and 99.5 per cent purities rose Rs 270 each to Rs 33,070 and Rs 32,920 per 10 grams, respectively. Similarly, sovereign gold advanced by Rs 100 to Rs 25,300 per piece of eight grams. Silver-ready jumped Rs 410 to Rs 40,510 per kg, while weekly based delivery gained Rs 367 to Rs 39,700 per kg. Silver coins, too, were in demand and traded higher at Rs 78,000 for buying and Rs 79,000 for selling of 100 pieces, as against the previous level of Rs 77,000 and Rs 78,000, respectively.     To keep watching India’s No. 1 English Business News Channel – CNBC-TV18, call your Cable or DTH Operator and ask for the Colors Family Pack (inclusive of 24 channels), available for Rs. 35/- per month, or subscribe to the channel for Rs. 4/- per day. To keep watching the Leader in Global Market & Business News – CNBC-TV18 Prime HD, call your Cable or DTH Operator and ask for the Colors Family HD Pack (inclusive of 25 channels), available for Rs. 50/- per month, or subscribe to the channel for Rs. 1/- per day.