Silver & gold rise as demand strengthens on global uncertainty

Precious metal prices increased up to 2 per cent in the national capital on Wednesday, with silver rising to Rs 2.77 lakh per kilogram, and gold advancing to Rs 1.64 lakh per 10 grams, tracking strong global trends and sustained safe-haven buying.

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According to the All India Sarafa Association, the white metal jumped Rs 5,900, or 2 per cent, to Rs 2,77,900 per kg (inclusive of all taxes) from Tuesday's closing level of Rs 2,72,000 per kg.

Extending its gains for the fifth consecutive session, gold of 99.9 per cent purity appreciated by Rs 1,000, or nearly 1 per cent, to Rs 1,64,200 per 10 grams (inclusive of all taxes). It had settled at Rs 1,63,200 per 10 grams in the previous market session.