Gold, silver up on stockists buying

NEW DELHI: Both gold and silver prices surged on the bullion market today on brisk buying activity by stockists and fabricators amid firm global trend and registered a noticeable gains.

Marketmen said increased buying by stockists and local parties in the wake of firming global trend mainly led to the surge in gold and silver prices.

Yesterday, in New York gold June future rose 7.70 dollars to 677.40 dollar an ounce while silver for the month of May gained 19 cents to 13.62 dollar an ounce.

Standard gold and ornaments evoked increased buying support from stockists and jewellery fabricators and shot up by Rs 80 each at Rs 9,500 and Rs 9,350 per ten gram respectively. Sovereign also gained Rs 25 at Rs 7,850 per piece of eight gram.

Similarly, silver ready attracted brisk buying from stockists and industrial users and spurted by Rs 250 to Rs 19,750 per kilo while weekly-based delivery by Rs.65 at Rs 19,850 per kilo.

Silver coins quoted higher by Rs 100 at Rs 24,600 for buying and Rs 24,700 for selling of 100 coins.