New Delhi: Gold prices recovered by Rs 100 to Rs 29,850 per 10 grams at the bullion market today on positive global cues and uptick in demand from local jewellers. Silver also rebounded by Rs 100 to Rs 43,200 per kg due to increased offtake by industrial units and coin makers.
Bullion traders attributed the recovery in gold prices to a firm trend overseas amid increased buying by local jewellers to meet ongoing marriage season demand.
Globally, gold rose 0.15% to $1,237.20 an ounce and silver spurted 0.28% to $17.98 an ounce in New York in Wednesday’s trade.
In the national capital, gold of 99.9% and 99.5% purity recovered by Rs100 each to Rs29,850 and Rs29,700 per 10 grams, respectively. It had lost Rs200 on Wednesday.
Sovereign, however, remained steady at Rs24,500 per piece of eight grams. Silver ready too edged up by Rs100 to Rs43,200 per kg, while weekly-based delivery shed Rs65 to Rs42,590 per kg for want of support from speculators.
Silver coins, however, continued to trade at previous level of Rs73,000 for buying and Rs74,000 for selling of 100 pieces.
