Gold up Rs 100 on positive global cues

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Gold prices moved up by Rs 100 to Rs 29,650 per 10 grams at the bullion market on Monday, tracking a firm trend overseas and increased buying by local jewellers. Silver also gained Rs 250 at Rs 42,450 per kg on increased offtake by industrial units and coin makers. The dollar slipped against a basket of major currencies boosting demand for a safe-haven, traders said, adding that increased buying by local jewellers at domestic market to meet wedding season demand also kept gold prices high. Globally, gold rose by 0.27 per cent to $1,222.80 an ounce and silver by 0.29 per cent to $17.54 an ounce in Singapore.             

Daily Pioneer
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