Gold firms up on global cues, jewellers' buying

Silver followed suit and advanced by Rs 170 to Rs 38,870 per kg due to increased offtake by industrial units and coin makers.

Marketmen said a firm trend overseas where gold hit a more than three-week high in low-volume trade amid a weaker dollar, mainly kept the precious metals higher.

Globally, gold rose 0.28 per cent at USD 1,278.10 an ounce and silver by 0.27 per cent at USD 16.42 an ounce in Singapore.

Besides, persistent buying by local jewellers at the domestic spot market supported the upside, they said.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity added Rs 100 each to Rs 29,975 and Rs 29,825 per ten gram, respectively. It had gained Rs 190 in the previous two sessions.

Sovereign also traded higher by Rs 100 to Rs 24,600 per piece of eight gram.

Tracking gold, silver ready rose by Rs 170 to Rs 38,870 per kg and weekly-based delivery by Rs 140 to Rs 38,095 per kg.

Silver coins however held steady at Rs 71,000 for buying and Rs 72,000 for selling of 100 pieces.