Traders said greater buying momentum by jewellers at the spot market was behind the gold price jump
: Gold prices registered a gain of Rs 250 at Rs 29,950 per 10 grams on Saturday, capitalising on a firm trend overseas amid fresh buying by local jewellers. However, silver was little changed at Rs 40,200 per kg in limited deals. Apart from a firm global trend, traders said, greater buying momentum by jewellers at the domestic spot market was primarily responsible for the price jump. Globally, gold rose 0.39 per cent to $1,290.80 an ounce and silver by 0.59 per cent to Rs 17.05 in New York on Friday.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity rebounded by Rs 250 each to Rs 29,950 and Rs 29,800 per 10 grams, respectively. It had lost Rs 150 on Friday.
Sovereign, however, remained flat at Rs 24,500 per piece of eight grams.
Silver ready was steady at Rs 40,200 per kg while weekly-based delivery shed Rs 40 to Rs 39,010. Silver coins remained unchanged at Rs 73,000 for buying and Rs 74,000 for selling of 100 pieces.