Gold, silver rises on firm global cues

Gold and silver rose on Wednesday on firm global cues and weaker dollar boosted the demand for commodities. Investors concerns over euro zone debt crisis and sought safety in precious metal.

MCX spot gold rose by Rs 94 to Rs 27,520 per 10 grams, while spot silver rose by Rs 340 to Rs 51,992 per kg.

At 1.40 pm IST, the gold for February delivery on the Multi Commodity Exchange (MCX) was trading at Rs 27,621.00. It opened at Rs 27,595 per 10 grams.

Similarly, the metal for April contract delivery made an intraday high of Rs 28,013 per 10 grams and was trading in the range of Rs 27,977 – Rs 27,982 per 10 grams.

While, silver for March delivery on MCX opened at Rs 53,147 per kg and was trading in the range of Rs 53,047 – Rs 53,050 per kg same time.

Overseas spot gold price stood at US $1,643 a troy ounce.

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