ET: Gold gains Rs 105 on firm global cues, fresh buying support
NEW DELHI: Gold prices spurted by Rs 105 to Rs 17,375 per ten gram in the bullion market here on Monday on frantic buying by stockists and jewellery fabricators amid firming global trends.
The trading sentiment turned bullish after gold in overseas markets rose to near five-month high on Greece rescue package concerns, marketmen said.
Some investors were seen shifting their funds from weak equity markets to bullion market, which also fuelled the uptrend, they said.
Standard gold and ornaments rose by Rs 105 each to Rs 17,375 and Rs 17,225 per ten gram respectively. Sovereign held steady at Rs 14,150 per piece of eight gram.
However, silver ready lacked necessary buying support and declined by Rs 50 to Rs 28,650 per kg. Weekly-based delivery was up by Rs 15 to Rs 28,285 per kg.
Silver coins gained Rs 100 to Rs 33,800 for buying and Rs 33,900 for selling of 100 pieces.
