NEW DELHI: Gold extended gains for the second straight day by adding another Rs 20 to reach Rs 17,120 per ten gram here on Wednesday on local buying in view of the current marriage season.
Standard gold and ornaments added Rs 20 each at Rs 17,120 and Rs 16,970 per ten gram, respectively, while the sovereign remained steady at Rs 14,050 per eight—gram piece in limited deals.
Marketmen said sustained buying by local parties for the current marriage season helped strengthen gold prices. They said the precious metal, which normally moves with the international trend, now was moving completely on retailers’ demand.
Gold in the Asian region fell today for the first time in three days as the dollar strengthened, eroding demand for the precious metal as a store of value. The metal declined 0.4 per cent to $1,133.70 an ounce.
On the other hand, silver ready held steady at Rs 28,900 per kg, while weekly-based delivery lost Rs 85 at Rs 28,515 per kg on lack of support from speculators. However, silver coins remained around previous levels of Rs 33,800 for buying and Rs 33,900 f or selling of 100 pieces. - PTI
