Gold price rallied due to domestic demand

DAINIK NATION BUREAU

Gold prices rallied for the second day on the back of positive global cues, rising by Rs 200 to Rs 30,400 per ten gram at the bullion market on Saturday. In Dehradun pure gold i.e. 24 carat gold price was Rs 30150 per 10 gram, 23 carat gold price was Rs 28900 per 10 gram and 23 carat gold price was Rs 28200 per 10 gram.

Besides, persistent buying by local jewellers to meet the increased demand helped the upswing.

Silver also gained Rs 300 to Rs 41,500 per kg on increased offtake by industrial units and coin makers.

Globally, gold rose 0.27 per cent to USD 1,324.40 an ounce and silver by 0.91 per cent to USD 17.70 an ounce in New York in Friday’s trade.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity advanced by Rs 200 each to Rs 30,400 and Rs 30,250 per ten gram, respectively. It had gained Rs 150 on Friday.

Sovereign, however, remained unaltered at Rs 24,600 per piece of eight gram.

Tracking gold, silver ready rose further by Rs 300 to Rs 41,500 per kg and weekly-based delivery by Rs 240 to Rs 40,020 per kg.

Silver coins, however, remained unchanged at Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces.