Gold climbs Rs 500; silver rallies Rs 1,000

New Delhi: Gold prices climbed Rs 500 to Rs 99,000 per 10 grams in the national capital on Wednesday amid a firm trend in the overseas markets, according to the All India Sarafa Associ-ation. The precious metal of 99.5 per cent purity rose Rs 500 to Rs 98,500 per 10 grams (inclu-sive of all taxes). Also, silver prices rallied Rs 1,000 to Rs 1,00,000 per kg (inclusive of all tax-es) on Wednesday. The metal had declined Rs 1,370 to Rs 99,000 per kg in the previous market session. Globally, spot gold increased by $23.16 per ounce or 0.7 per cent to $3,323.87 per ounce. “Gold prices traded positive as markets await the release of the FOMC (Federal Open Market Committee) meeting minutes and speeches from US Federal Reserve officials for further policy signals,” Kaynat Chainwala, AVP Commodity Research at Kotak Securities, said