Gold And Silver Prices Up Rs 500 Each

New Delhi: Gold prices climbed Rs500 to Rs74,600 per 10 grams in the national capital on Wednesday on account of increased buying by local jewellers as well as strong cues in the global markets. The precious metal of 99.9 per cent purity had closed at Rs74,100 per 10 grams in the previous close on Tuesday. With this, gold prices have surged over Rs1,000 over the past two days. Silver prices, too jumped Rs500 to Rs85,000 per kilogram on Wednesday.

It had finished at Rs84,500 per kg in the previous session, according to All India Sarafa Association. Meanwhile, gold of 99.5 per cent purity also rallied Rs500 to Rs74,250 per 10 grams from Rs73,750 per 10 grams. Traders said sentiment turned upbeat on the back of a pick-up in buying from local jewellers and retailers, thereby leading to a rise in gold prices. In the international markets, Comex gold is trading 0.31 per cent higher at $2,550.90 per ounce. Silver was also quoted higher at $29.11 per ounce in the overseas markets.