New Delhi: Gold prices edged higher by Rs25 to Rs29,875 per 10 grams at the bullion market on Monday on sustained buying by local jewellers. Silver prices also rose by Rs40 to Rs38,700 per kg.
Traders said sustained buying by local jewellers kept gold prices higher amid absence of cues from overseas markets, which are closed for Christmas.
In the national capital, gold of 99.9% and 99.5% purity edged up by Rs25 each to Rs29,875 and Rs29,725 per 10 grams, respectively. The precious metal had surged Rs165 in Saturday’s trade. Sovereign, however, pegged unchanged at Rs24,500 per piece of eight grams in scattered deals.
Following gold, silver ready rose by Rs40 to Rs38,700 per kg, while weekly-based delivery held steady at Rs37,955 per kg. However, silver coins spurted by Rs1,000 to Rs71,000 for buying and Rs72,000 for selling of 100 pieces.