Taking positive cues from overseas markets and increased buying by jewellers, gold rose for the second consecutive day by climbing Rs 155 to Rs 27,265 per ten grams at the bullion market today.

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Silver also recovered by Rs 225 to Rs 37,350 per kg on increased offtake by industrial units and coin makers.

Bullion traders said a firming global trend where gold advanced ahead of the Federal Reserve s policy meeting amid bets the US central bank will refrain from raising interest rates until 2016, mainly boosted the sentiment here.

Globally, gold rose 0.3 per cent to USD 1,170.65 an ounce in Singapore.

Sustained buying by jewellers to meet ongoing wedding season demand also supported the upside, they said.

In the national capital, gold of 99.9 and 99.5 per cent purity surged by Rs 155 each to Rs 27,265 and Rs 27,115 per 10 grams respectively. It gained Rs 40 yesterday.

Sovereign, however, remained steady at Rs 22,400 per piece of eight grams.

Silver ready rebounded by Rs 225 to Rs 37,350 per kg and weekly-based delivery by Rs 215 to Rs 37,190 per kg.

Silver coins, however, continued to be traded at previous level of Rs 52,000 for buying and Rs 53,000 for selling of 100 pieces.

PTI