NEW DELHI: Gold prices on Wednesday rose by Rs 50 at Rs 14,730 per 10 gram in the bullion market here on frenzied buying by stockists and general investors following better trend in the global markets.
Market men said trading sentiment turned better after gold gained in the international markets, which normally set price trend here. They said general investors shifting their funds from melting equities to bullion for a safe-haven was another boosting f actor.
Gold gained 1.2 per cent to 938 dollar an ounce in the New York Exchange last evening as the US currency weakened against major currencies, silver too joined the rally and moved up by 1.4 per cent to $14.91 an ounce.
Meanwhile, silver also moved up by Rs 20 at Rs 22,620 in the domestic market. Standard gold and ornaments gained Rs 50 each at Rs 14,730 and Rs 14,580 per 10 gram, respectively.
Sovereign, on the other hand, continued to be asked at previous level of Rs 12,400 per piece of eight gram.
Silver ready rose by Rs 20 at Rs 22,620 per kg, while weekly-based delivery fell by Rs 70 at Rs 22,680 per kg.Silver coins were also down by Rs 200 at Rs 29,200 for buying and Rs 29,300 for selling of 100 pieces. - PTI
