Gold rises for 3rd day, surges to Rs 33,190 per 10g
Extending its upward trend for third straight day, gold prices Wednesday gained Rs 65 to Rs 33,190 per 10 gram at the bullion market here due to increased demand from jewellers, according to the All India Sarafa Association.
Silver too followed the trend and surged by Rs 300 to Rs 40,500 per kg driven by significant increase in demand from industrial units and coin makers.
Traders said, gold prices witnessed an uptick, as investors bet on this asset class as a safe haven, owing to depreciation in the rupee vis-a-vis the US dollar.
Besides, a firm trend overseas supported the gain in the prices of yellow metal, they added.
In the last two days, gold prices went up by Rs 250.
Globally, gold traded higher at USD 1,292.03 an ounce and silver stood at USD 15.60 an ounce in New York.
In the national capital, gold of 99.9 per cent and 99.5 per cent purities advanced by Rs 65 each to Rs 33,190 and Rs 33,040 per 10 gram, respectively.
However, sovereign gold held steady at Rs 25,400 per piece .