Gold prices rise for 3rd day on global cues

New Delhi, Jun 12 : Extending its gains for the third straight day, gold rose by another Rs 10 to Rs 27,240 per ten gram in the national capital today on some demand from jewellers amid a firming global trend. Silver, however, met with resistance and declined by Rs 100 to Rs 41,200 per kg. Traders said some buying by jewellers and retailers amid a firming global trend helped prices move further.

Gold in Singapore, which normally sets price trend on the domestic front, traded at two-week high at USD 1,261.12 an ounce as recent decline in prices spurred physical purchases. In Delhi, gold of 99.9 and 99.5 per cent purity edged higher by Rs 10 each to Rs 27,240 per ten gram and Rs 27,040 per ten gram respectively. It had gained Rs 130 in the last two days. Sovereign remained flat at Rs 24,400 per piece of 8 gram.

On the other hand, silver ready declined by Rs 100 to Rs 41,200 per kg and weekly-based delivery by Rs 20 to Rs 40,600 per kg. The white metal had gained Rs 675 in the previous three days. Meanwhile, silver coins maintained steady trend at Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.