Gold, silver edges up on MCX

Overseas spot gold edged up on Tuesday and was trading around $1,626 an ounce. On the domestic front, gold and silver advanced on the Multi Commodity Exchange (MCX), with gold for October delivery opening at Rs 30,157 per 10 grams and was seen trading at Rs 30,218 per 10 grams at 1.40 pm IST.

On going speculation of further monetary easing is keeping gold sentiment lifted.

Gold for December contract delivery also rose and was seen trading at Rs 30,553 per 10 grams.

MCX silver futures edged up by Rs 242 per kg, while silver for March delivery was seen trading at Rs 54,555 per kg same time.

Spot bullion was seen trading around Rs 30,011per 10 grams. Delhi spot gold of 99.9 and 99.5% purity was at Rs 30,510 and Rs 30,310 per 10 grams, respectively.

Gold prices also rose as a result of increased buying by stockists and jewelers tracking the surge in the demand for the yellow metal.

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