Wedding season, positive global cues push gold prices by Rs 90 to Rs 33,300 per 10 gm; silver recovers too

New Delhi:  Gold prices edged up by Rs 90 to Rs 33,300 per 10 gram at the bullion market on Friday on fresh buying by local jewellers to meet wedding season demand amid positive global cues.

Silver prices also recovered by Rs 100 to Rs 40,050 per kg on increased offtake by industrial units and coin makers.

Marketmen said, gold prices rose due to increased buying by jewellers to meet the ongoing wedding season demand at the domestic spot market.

Moreover, a firm trend overseas supported the rise in yellow metal prices, they said. Bullion market will be closed on Saturday on account of Republic Day.

Globally, gold rose 0.21 percent to $1,284.30 an ounce and silver by 0.39 percent to $15.41 an ounce in New York.

In the national capital gold of 99.9 percent and 99.5 percent purity climbed Rs 90 each to Rs 33,300 and Rs 33,150 per 10 gram, respectively. It had held steady on Thursday.

Sovereign gold, however, remained flat at Rs 25,500 per piece of 8 gram.

Tracking gold, silver ready rose by Rs 100 to Rs 40,050 per kg and weekly-based delivery by Rs 42 to Rs 39,036 per kg.

On the other side, silver coins continued to be traded at previous level of Rs 77,000 for buying and Rs 78,000 for selling of 100 pieces.

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