Gold price recovers on scattered buying; silver ends higherNew Delhi: Gold prices Friday recovered marginally by Rs 10 to Rs 27,310 per ten grams at the bullion market in the national capital on wedding season demand from jewellers even as the metal weakened
New Delhi: Gold prices Friday recovered marginally by Rs 10 to Rs 27,310 per ten grams at the bullion market in the national capital on wedding season demand from jewellers even as the metal weakened overseas.
Silver rebounded by Rs 360 to Rs 38,560 per kg on increased offtake by industrial units and coin makers.
Traders said fresh buying by retailers and jewellers for the ongoing wedding season, helped gold prices to recover.
They said, however, weak global trend as declining oil prices and prospects for higher US interest rates, restricted the rise.
Gold in Singapore, which normally sets price trend on the domestic front, traded lower by 0.8 percent to USD 1,217.50 an ounce and silver by 0.5 percent to USD 17.01 an ounce.
In Delhi, gold of 99.9 and 99.5 percent purity inched up by Rs 10 each to Rs 27,310 and Rs 27,110 per ten gram respectively. The precious metal had lost Rs 170 yesterday.
Sovereign, however, moved in a narrow range in scattered deals and settled at previous level of Rs 23,800 per piece of eight gram.
Silver ready recovered by Rs 360 to Rs 38,560 per kg but weekly-based delivery fell by Rs 330 to Rs 38,200 per kg on lack of speculators' buying.
Silver coins, however, continued to be asked at last level of Rs 63,000 for buying and Rs 64,000 for selling of 100 pieces.