Gold tops 32K-mark on firm global cues, jeweller buying

Gold soared by Rs 300 to trade at Rs 32,150 per ten gram at the bullion market today on positive global cues amid continued buying by local jewellers Silver also reclaimed the Rs 40,000-level per kg by gaining Rs 240, backed by an increased offtake by industrial units and coin makers.

Marketmen said apart from a firm trend overseas, brisk buying by local jewellers to meet retailer demand in the domestic spot market pushed up gold prices.

Globally, gold rose 1.02 per cent to USD 1,352.80 an ounce and silver by 0.60 per cent to USD 16.65 an ounce in New York in yesterday's trade.

Besides, a depreciated rupee against the dollar made imports of the metal costlier, thus fuelling the uptrend, experts said.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity climbed by Rs 300 each to Rs 32,150 and Rs 32,000 per ten gram, respectively. The precious metal had gained Rs 500 in the previous four sessions.

Sovereign also edged up by Rs 100 to Rs 24,900 per piece of eight grams.

In line with gold, silver ready rose further by Rs 240 to Rs 40,000 per kg and weekly-based delivery rose by Rs 225 to Rs 39,000 per kg.

Silver coins too spurted by Rs 1,000 to Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.