Gold gains Rs 125 on global cues, wedding season demand

Gold prices rose by Rs 125 to trade at Rs 27,200 per 10 grams at the bullion market today on the back of firming global trend amid increased buying by jewellers to meet the ongoing wedding season demand.
Silver also recovered by Rs 200 to Rs 37,000 per kg on increased offtake by industrial units and coin makers.
Bullion traders said besides a firming trend overseas, increased buying by jewellers to meet marriage season demand mainly kept the prices of the precious metals higher.
Gold in Singapore, which normally sets price trend on the domestic front, was trading a shade higher at USD 1,205.30 an ounce.

In the national capital, gold of 99.9 and 99.5 per cent purity rose further by Rs 125 each to Rs 27,200 and Rs 27,050 per 10 grams, respectively. It had gained Rs 85 on Saturday.
However, Sovereign held steady at Rs 23,700 per piece of eight grams.
In line with a general firm trend, silver ready recovered by Rs 200 to Rs 37,000 per kg and weekly-based delivery by Rs 190 to Rs 36,645 per kg.
On the other hand, silver coins continued to be enquired at last level of Rs 56,000 for buying and Rs 57,000 for selling of 100 pieces.