Stock Market Tips, Gold glitters on global cues, wedding season buying by jewelers, retailers
Bullion traders said the sentiment got a boost owing to a firming trend overseas where gold rose to the highest since September
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Gold rose by Rs 200 to trade at an almost three-month high of Rs 30,950 per 10 gram at the bullion market on Tuesday, helped by a firm global trend and pick- up in wedding season buying by local jewelers and retailers.
Silver also rallied by Rs 300 to trade above the Rs 40,000 per kg level on increased offtake by industrial units and coin makers.
Bullion traders said the sentiment got a boost owing to a firming trend overseas where gold rose to the highest since September, as the dollar slumped to three-year lows against a basket of currencies, raising the appeal of the precious metals as a safe haven.
Globally, gold rose 0.42 percent to $1,343 an ounce and silver by 0.90 percent to USD 17.36 an ounce in Singapore on Monday.
Besides, a pick-up in buying by local jewelers to meet wedding season demand at domestic spot market also supported the uptick, they said.
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