Mumbai: Continuing its rise for the second day, gold gained by Rs 85 to Rs 26,865 per ten grams at the bullion market on February 2, on sustained buying by jewellers, driven by the ongoing wedding season. However, silver slipped by Rs 70 to Rs 35,040 owing to lower industrial demand.
Standard gold (99.5 purity) strengthened by Rs 85 to end at Rs 26,865 per 10 grams from overnight closing level of Rs 26,780. Pure gold (99.9 purity) also rose by a similar margin to settle at Rs 27,015 per 10 grams as compared to Rs 26,930.
Silver (.999 fineness) decline by Rs 70 per kg to finish at Rs 35,040 from Rs 35,110 earlier. In worldwide trade, gold touched a new three-month high, as concerns about the global economy and a further drop in oil prices pushed investors towards safe-haven assets.
Spot gold touched USD 1,130.11 an ounce, its strongest since November 3, and was trading down 0.3 per cent at USD 1,125.64 in early European trade, while silver dropped 0.3 per cent to USD 14.28.
