By NNN-PTI,
New Delhi : Gold prices today rose by Rs 35 to Rs 11,855 per 10 gram for the fourth straight day in the bullion market here today on scattered buying by retail customers.
Marketmen said, trading sentiment remained firm following small buying activities for the festival of ‘Akshay Tritiya’, an auspicious occasion in Hindu mythology for buying bullion. The gold in the last four trading sessions gained Rs 370 per 10 gram.
The market even discounted reports of a steep fall in gold prices in the overseas markets, which normally set price band in domestic markets, they added.
In the US markets, gold prices plunged nearly 12 dollar an ounce to 855 dollar an ounce on firming dollar against leading currencies and crude oil rising to records.
Standard gold and ornaments rose by Rs 35 each to Rs 11,855 and Rs 11,705 per 10 gram respectively. Sovereign, on the other hand, declined by Rs 25 at Rs 9850 per piece of eight gram on reduced offtake.
However, silver ready fell by Rs 120 to Rs 22,500 per kg and weekly-based delivery by Rs 100 to Rs 22,850 per kg. Silver coins remained unchanged at Rs 26,600 for buying and Rs 26,700 for selling of 100 pieces.
Marketmen said silver prices turned weak on reduced off take by jewellers and industrial units.