Online BusinessGold, silver prices rose on higher global cues
Gold prices rose sharply at the bullion market here today due to fresh buying from stockists and retailers following a firm trend in global markets.
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Silver, too, shot up on hectic demand from industrial users amidst demand from stockists.
Standard gold (99.5 purity) hardened by Rs 155 per ten grams to close at Rs 16,875 from yesterday"s closing level of Rs 16,720.
Pure gold (99.9 purity) rose by a similar margin to end at Rs 16,960 from Rs 16,805 previously.
Silver ready(.999 fineness) strengthened by Rs 395 per kg to finish at Rs 28,710 as against Rs 28,315 previously.
In New York, gold futures rose yesterday as US dollar weakened sharply against basket currencies after a largely disappointing jobs data.
Gold for February delivery ended up by $5.20 at $1,138.90 an ounce on the COMEX division of the NYMEX.
Silver for March gained by 0.7 per cent to $18.47 an ounce.