New Delhi: Gold staged a smart recovery at the bullion market today, rising Rs190 to Rs29,250 per 10 grams on firm global cues and pick up in buying by local jewellers.
Bullion traders attributed the recovery in gold prices to a firm trend overseas and increased buying by local jewellers to meet the ongoing auspicious ‘Navratras’ demand at the domestic spot market.
Globally, gold rose 0.54% to $1,249.20 an ounce while silver gained 0.77% to $18.23 an ounce in New York on Friday.
At the national capital, gold of 99.9% and 99.5% purity recovered sharply by Rs190 each, to Rs29,250 and Rs29,100 per 10 grams, respectively. It had lost Rs490 in the last two days. Sovereign, however, remained flat at Rs24,400 per piece of eight grams.
Tracking gold, silver ready rose by Rs500 to Rs42,650 per kg and weekly-based delivery gained Rs325 to Rs42,330 per kg. On the other hand, silver coins remained unaltered at Rs71,000 for buying and Rs72,000 for selling of 100 pieces.
