Taking positive cues from global markets and buying by jewellers at the domestic front, gold prices rose for the third straight day by adding Rs. 25 to Rs. 31,175 per 10 grams at the bullion market on Tuesday.
Silver also advanced by Rs. 300 to Rs. 45,800 per kg, backed by increased offtake by industrial units and coin makers.
Marketmen said a firming trend overseas where gold rose for a second day amid speculation that Federal Reserve policy makers will again stay their hand on an interest rate increase, raising demand for the precious metals, mainly buoyed the sentiment here.
Globally, gold climbed 0.24 per cent to $1,316 an ounce in Singapore on Tuesday. Besides, increased buying by jewellers at domestic spot markets supported the upside.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity edged up by Rs. 25 each to Rs. 31,175 and Rs. 31,025 per 10 grams respectively. It had gained Rs. 150 in the previous two trading sessions. Sovereign, however, remained steady at Rs. 24,400 per piece of eight grams in scattered deals.
Tracking gold, silver ready strengthened by Rs. 300 to Rs. 45,800 per kg while weekly-based delivery recaptured the Rs. 46,000-mark by rising Rs. 320 to Rs. 46,150 per kg.
Silver coins too spurted by Rs. 1,000 to Rs. 76,000 for buying and selling of 100 pieces each.
