Gold firms up to near 30,000; silver regains 43,000-level

New Delhi: Gold prices rose for the fourth straight session today by Rs 100 to Rs 29,950 per 10 grams at the bullion market on account of continued buying by local jewellers and a firm trend overseas. Silver also reclaimed the Rs 43,000-mark per kg by gaining Rs 100 on the back of increased offtake by industrial units and coin makers.

Traders said sentiment remained firm largely in line with positive global cues and continued buying by local jewellers to meet wedding season demand at domestic spot market.

Globally, gold rose by 0.09 per cent to USD 1,287.80 an ounce and silver by 0.33 per cent to USD 18.52 an ounce in New York in yesterday's trade. In the national capital, gold of 99.9 per cent and 99.5 per cent purity rose further by Rs 100 each to Rs 29,950 and Rs 29,800 per 10 grams, respectively.

It had gained Rs 560 in the previous three days. Sovereign, however, remained flat at Rs 24,500 per piece of eight grams. Silver ready also moved up by Rs 100 to Rs 43,000 per kg and weekly-based delivery by Rs 120 to Rs 42,570 per kg. Silver coins, however, continued to be traded at previous level of Rs 72,000 for buying and Rs 73,000 for selling of 100 pieces.