BackGold gains Rs100 on jewellers buying, higher global cues
Gold of 99.9% and 99.5% purity rebounded by Rs100 each to Rs26,700 and Rs26,550 per 10 grams, respectively
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New Delhi: After falling for two days, gold recovered Rs100 to Rs26,700 per 10 grams in Delhi bullion market on Saturday on emergence of buying by jewellers and retailers to meet rising seasonal demand amid a firming trend overseas.
Bullion traders said emergence of buying by jewellers and retailers at the existing levels to meet wedding season demand and a firming trend in global market mainly led to recovery in gold prices. Globally, gold ended 1.53% higher at $1,156.40 an ounce in New York on Friday.
In the national capital, gold of 99.9% and 99.5% purity rebounded by Rs100 each to Rs26,700 and Rs26,550 per 10 grams, respectively. The precious metal had lost Rs250 in the last two trading sessions. Sovereign, however, traded Rs200 lower at Rs22,200 per piece of eight grams on weak demand.
On the other hand, silver ready fell Rs75 to Rs36,725 per kg while weekly delivery lost Rs80 to Rs36,830 per kg on muted demand. Silver coins, however, ruled steady at Rs51,000 for buying and Rs52,000 for sale of 100 pieces.
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