Gold rises on robust demand, global cues

NEW DELHI: Gold prices Friday rose by Rs 80 to Rs 33,050 per 10 gram at the bullion market on increased buying from jewellers amid firm trend overseas, according to All India Sarafa Association. Tracking gold, silver, too, advanced by Rs 270 to Rs 39,270 per kg due to increased offtake from industrial units and coin makers.
Traders attributed the rise in gold prices to firm trend overseas which influenced the market sentiment leading to an increased buying from local jewellers.
Globally, gold rose 0.28 per cent to USD 1313.60 an ounce and silver was up 0.13 per cent to USD 15.57 an ounce in New York.
On Thursday, Delhi bullion market was closed on account of "Holi".
In the national capital, gold of 99.9 per cent and 99.5 per cent purities advanced by Rs 80 each to Rs 33,050 and Rs 32,880 per 10 gram, respectively.
Sovereign gold, however, remained flat at Rs 26,400 per piece of 8 gram.
Silver ready also moved up by Rs 270 to Rs 39,270 per kg and weekly-based delivery by Rs 246 to Rs 38,126 per kg.
Silver coins rose by Rs 1,000 to Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.