Moneycontrol
Jan 11, 2017 06:11 PM IST IST | Source: PTI

Gold extends gains for 7th day; spurts Rs 150 to Rs 28,710/10g

Silver also shot up by Rs 475 per kg and reclaimed the Rs 41,000-mark on persistent buying by industrial users.


Gold continued its upward journey for the seventh day rising by another Rs 150 per 10 gram at the bullion market here today on sustained investors offtake and increased jewellery demand amid wedding season.


Silver also shot up by Rs 475 per kg and reclaimed the Rs 41,000-mark on persistent buying by industrial users.


Standard gold (99.5 purity) climbed up by Rs 150 to settle at Rs 28,710 per 10 grams from yesterday's closing level of Rs 28,560.


Pure gold (99.9 purity) also rose by a similar margin to end at Rs 28,860 per 10 grams against Rs 28,710 earlier.


Silver (.999 fineness) strengthened by Rs 475 per kg to conclude at Rs 41,385 compared with Rs 40,910 yesterday.


Globally, gold hit six-week highs as investors worrying about political uncertainty bought the precious metal, but dollar strength due to higher US rates is expected to cap gains.


Spot gold was down 0.1 percent at 1186.45 an ounce at early trade from an earlier peak at USD 1,191.32.

Elsewhere silver was down 0.2 percent at USD 16.76 an ounce from Tuesday's four-week high at USD 16.90.

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