Gold up Rs120 to Rs20,620/10gm; silver regains Rs46k/kg mark

Gold maintained an upward trend for the fourth straight day in the bullion market today and rose by Rs120 to 20,620 per 10 grams on increased buying by local parties for the ongoing marriage season, while silver rose by Rs250 to Rs46,100 per kg on industrial demand.

Traders said increased offtake by industrial units and coin makers gave push to silver prices.

On the domestic front, gold of 99.9 and 99.5% purity climbed up by Rs120 each to Rs20,620 and Rs20,500 per 10 grams, respectively. The metal had gained Rs160 in the previous three sessions. Sovereign rose by Rs50 to Rs16,900 per piece of eight grams.

Silver ready rose by Rs250 to Rs46,100 per kg and silver weekly-based delivery by Rs30 to Rs45,715 per kg. Silver coins also gained by Rs300 to Rs50,300 for buying and Rs50,400 for selling of 100 pieces.