Gold spurts by Rs 240 on Samvat 2065

NEW DELHI: The Diwali commenced on a cheerful note with the gold surging by Rs 240 to Rs 12,250 per ten gram in the national capital on Tuesday as stockists opened their new accounts in the Samvat 2065's special trading.
     
Bullion merchants, who made token transactions on the first day of the year after performing puja, mainly supported the metal to end on a positive zone.
     
Retailers purchasing on the occasion, considered to be an auspicious day for making new purchases, further supported the uptrend amid reports of a firming-up trend in international markets.
    
Silver shot up by Rs 400 to Rs 16,800 per kg on increased offtake by industrial units and silver coins makers to meet the current festival season demand when people use them for special prayers and as gifts.
    
The market also received a booster from suring international bullion markets after the gold advanced in London as recovering global stocks rallied, halting a selloff in commodities.
    
The metal in London gained 14.92 dollars to 745.72 dollars an ounce and silver added 7.63 cents to 9.14 dollar an ounce.
     
The special Diwali trading took place in gold and silver and not in sovereign and silver coins.