Gold stays up on global cues, jewellers’ buying

New Delhi, Sep 20 (PTI) Taking positive cues from globalmarkets and buying by jewellers at the domestic front, goldprices rose for the third straight day by adding Rs 25 to Rs31,175 per 10 grams at the bullion market today. Silver also advanced by Rs 300 to Rs 45,800 per kg, backedby increased offtake by industrial units and coin makers. Marketmen said a firming trend overseas where gold rosefor a second day amid speculation that Federal Reserve policymakers will again stay their hand on an interest rateincrease, raising demand for the precious metals, mainlybuoyed the sentiment here. Globally, gold climbed 0.24 per cent to USD 1,316 an ouncein Singapore today. Besides, increased buying by jewellers at domestic spotmarkets supported the upside. In the national capital, gold of 99.9 per cent and 99.5per cent purity edged up by Rs 25 each to Rs 31,175 and Rs31,025 per 10 grams respectively. It had gained Rs 150 in theprevious two trading sessions. Sovereign, however, remained steady at Rs 24,400 per pieceof eight grams in scattered deals. Tracking gold, silver ready strengthened by Rs 300 to Rs45,800 per kg while weekly-based delivery recaptured the Rs46,000-mark by rising Rs 320 to Rs 46,150 per kg. Silver coins too spurted by Rs 1,000 to Rs 76,000 forbuying and selling of 100 pieces each. PTI SUN KPSANU