BackGold, silver recover on scattered buying
Gold of 99.9 and 99.5% purity recovered by Rs50 each to Rs26,550 and ₹26,350 per 10 grams, respectively
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New Delhi: After two days of losses, gold prices recovered by Rs50 to Rs26,550 per 10 gm on Saturday in Delhi bullion market on buying at prevailing levels by jewellers and retailers even as metal remained weak overseas.
Traders said revival of buying by ornament makers and retailers at existing levels, mainly supported the upside in gold prices.
They said, however, a weakening trend overseas, capped the gains on the domestic markets here.
In Delhi, gold of 99.9 and 99.5% purity recovered by ₹ 0 each to ₹ 6,550 and ₹ 26,350 per 10 grams, respectively, after losing ₹ ,000 in the previous two days. Globally, gold fell by 2.3% to $1,171.60 an ounce in New York yesterday as strengthening dollar eroded demand.
Sovereigns, however, remained under pressure and fell by another Rs100 to Rs23,800 per piece of eight grams. Silver ready traded Rs100 higher at Rs36,250 per kg and weekly-based delivery rose by Rs220 to Rs35,800 per kg.
On the other hand, silver coins held steady at Rs61,000 for buying and Rs62,000 for selling of 100 pieces.
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