Gold rises for 3rd day, surges to Rs 33,190 per 10g

New Delhi, Jan 16 Extending its upward trend for third straight day, gold costs Wednesday gained Rs 65 to Rs 33,190 for every 10 gram at the bullion market here due to increased demand from jewellers , as per the All India Sarafa Association.

Silver too followed the trend and surged by Rs 300 to Rs 40,500 for every kg driven by huge increase in demand from industrial units and coin makers.

Traders stated, gold costs witnessed an uptick, as investors bet on this asset class as a place of refuge, attributable to depreciation in the rupee vis-a-vis the US dollar.

Besides, a firm trend overseas supported the gain in the prices of yellow metal, they added.

In the last two days, gold costs went up by Rs 250.

All around, gold exchanged higher at USD 1,292.03 an ounce and silver remained at USD 15.60 an ounce in New York.

In the national capital, gold of 99.9 percent and 99.5 percent purities progressed by Rs 65 each to Rs 33,190 and Rs 33,040 for every 10 gram, individually.

In any case, sovereign gold held steady at Rs 25,400 for each bit of eight grams.

Silver ready gained up Rs 300 to Rs 40,200 for every kg, while weekly-based delivery declined by Rs 88 to Rs 39,833 per kg.

Silver coins, however, held level at Rs 77,000 for buying and Rs 78,000 for selling of 100 pieces.