Gold prices hit another high of Rs32,975/10 gm

Gold prices rose by Rs 25 to set a new record of Rs 32,975 per 10 gm here today on brisk seasonal buying amid firming global trends.

On the domestic front, gold of 99.9 and 99.5% purity advanced by Rs25 each to Rs32,975 and Rs32,775 per 10 gm, respectively, the levels never seen before. Sovereign followed suit and rose by Rs50 to Rs25,700 per piece of eight gram.

Gold prices gained Rs575 in the last five trading sessions on brisk buying by stockists and retail customers for the ongoing marriage season.

Traders said gold prices improved on increased demand in view of the ongoing marriage season and lifted the prices to another record high.

A firming global trend further supported the prices, they said.

Global prices, which normally set price trend on the domestic front, advanced 0.2% to $1,751.80 an ounce in Singapore.

Silver prices declined by Rs200 to Rs63,000 per kg.

Silver ready lacked necessary buying support from industrial units and declined by Rs200 to Rs63,000 per kg while weekly-based delivery moved up by Rs230 to Rs64,090 per kg on speculators buying.

Silver coins remained steady at Rs81,000 for buying and Rs82,000 for selling of 100 pieces in restricted deals at prevailing higher levels.