Gold surges to a level last seen on 24 March. Photo: Bloomberg
New Delhi: Gold regained the psychological Rs.30,000 per 10 grams level after three weeks in the national capital on Monday on brisk buying by stockists for the ongoing wedding season amid firming global trend. Gold surged by Rs.220 to Rs.30,200, a level last seen on 24 March, and silver by Rs.150 to Rs.43,900 per kg on increased offtake by industrial units and coin makers. Traders said brisk buying by stockists for the ongoing wedding season mainly led an upsurge in precious metal prices. They said firming global trend, as tension escalated in Ukraine boosting demand for a haven, also influenced the sentiment.
Gold in Singapore, which normally sets price trend on the domestic front, rose by 0.9% to $1,329.92 an ounce, the highest since 24 March and silver by 0.5% to $20.09 an ounce. On the domestic front, gold of 99.9% and 99.5% purity shot up by Rs.220 each to Rs.30,200 and Rs.30,000 per 10 grams, respectively, a level last seen on 24 March.
Sovereign, however, held steady at Rs.25,000 per piece of eight grams.
Silver ready also advanced by Rs.150 to Rs.43,900 per kg while weekly-based delivery held steady at Rs.43,180 per kg, while silver coins ruled flat at Rs.82,000 for buying and Rs.83,000 for selling of 100 pieces.
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