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LM:Gold gains for second day, surges Rs660 on global cues
 
New Delhi: Gold prices gained Rs660 to Rs32,200 per ten grams in the national capital on Wednesday, mainly on sustained buying by stockists driven by firming global trend.
Silver also rose for the third day by adding Rs70 to Rs55,500 per kg on increased offtake by industrial units and coin makers.
Traders said sustained buying by stockists amid a firming global trend mainly led to an upsurge in gold prices. Increased offtake by industrial units and coin makers kept silver prices firm for the third day, they said.
Gold in New York, which normally set price trend on the domestic front, rose by $15.70 to $1412.20 an ounce and silver by 3.19% to $24.28 an ounce.
On the domestic front, gold of 99.9 and 99.5% purity surged by Rs660 each to Rs32,200 and Rs32,000 per ten grams, respectively.It had gained Rs440 on Tuesday.
Sovereign advanced by Rs200 to Rs25,300 per piece of eight gram.
In line with a general firm trend, silver ready added Rs70 to Rs55,500 per kg while weekly-based delivery declined by Rs230 to Rs57,000 per kg on lack of speculators’ support.
The white metal had gained Rs1,500 in last two trades. Silver coins spurted by Rs1,000 to Rs89,000 for buying and Rs90,000 for selling of 100 pieces.
Source