Gold prices surged for the fifth straight day on Thursday. In national capital Delhi, the price of the shiny metal was up by over half a per cent today on the back of strong demand by jewellers during the wedding season and firm international prices. During the last five days the price of the precious metal has gone up by nearly two per cent to reach the level last seen in August 2015.
In the national capital, gold of 99.9 and 99.5 per cent purity shot up by Rs 175 each to Rs 27,575 and Rs 27,425 per ten grams respectively, the level last seen on August 24, last year.
Silver also gained for the second day and advanced by Rs 650 to Rs 35,700 per kg due to increased off take by industrial units and coin makers.
Bullion traders said a firming global trend where gold held near the highest level since October after waning bets on US interest rate rise weakened the dollar, mainly boosted the sentiment here.
Globally, gold traded higher at USD 1,142.89 an ounce in Singapore from yesterday’s USD 1,142.63, when it surged 1.5 per cent to USD 1,145.67, the highest level since October 30.
The precious metals had gained Rs 350 in last four days. The total increase during the five days adds to Rs. 525 per 10 gram or nearly 2%.
Following gold, silver ready surged by Rs 650 to Rs 35,700 per kg and weekly-based delivery by Rs 655 to Rs 35,600 per kg.
Silver coins too spurted by Rs 1,000 to Rs 52,000 for buying and Rs 53,000 for selling of 100 pieces on upsurge in wedding season demand.
(With agency inputs)