Gold and Silver extend gains on rising global trend

Gold rose for that second day today adding Rs 275 to industry at Rs 28, 190 per 10 gram in the bullion market here on buying by stockists as well as investors who took cues from firm global marketplaces.

Silver too extended gains for the second day time and traded at Rs 65, 100 per kg, a gain of Rs 600 during the last day.

Trading sentiment remained bullish as gold jumped probably the most in almost four weeks in global markets following a weak US economic report.

Gold in global marketplaces, which normally set price trend on the household front, recorded a handsome gain of 58. 80 dollar to at least one, 884. 20 dollar an ounce and silver leaped up by 4. 22% to 43. 25 buck an ounce.

Besides, some buying for the coming marriage season further fuelled the uptrend within the precious metals prices.

On the domestic front, precious metal of 99. 9 and 99. 5% purity rallied in order to Rs 28, 190 and Rs 28, 050 for each ten grams against last close of Rs 28, 915 and Rs 27, 765.

Sovereign followed match and added Rs 100 to Rs 22, 600 per bit of eight gram.

Silver ready added Rs 600 in order to trade at Rs 65, 100 per kg as well as weekly-based delivery spurted by Rs 2, 615 in order to Rs 65, 835 per kg. Silver coins also increased by Rs 1, 000 to Rs 73, 000 with regard to buying and Rs 74, 000 for selling associated with 100 pieces.