Gold, Silver Recover on Buying by Jewellers, Global Cues

Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    Snapping its three-day losing streak, gold prices recovered by Rs 50 to Rs 26,800 per 10 grams at the bullion market today on increased buying by jewellers at prevailing levels amid a firm global trend.

    Silver also edged up by Rs 100 to Rs 36,750 per kg on better offtake by industrial units and coin makers.

    Gold, Silver Recover on Buying by Jewellers, Global Cues

    Traders said emergence of buying by jewellers and retailers at existing levels and a better trend in the global markets mainly led to the recovery in gold prices.

    Gold in London, which normally sets price trend on the domestic front, was up by 0.85 per cent to USD 1,203.70 an ounce in early trade today.

    In the national capital, gold of 99.9 and 99.5 per cent purity rose by Rs 50 each to Rs 26,800 and Rs 26,650 per 10 grams, respectively. It had lost Rs 500 in last three days.

    Sovereign, however, remained steady at Rs 23,700 per piece of eight grams in limited deals.

    Silver ready also traded higher by Rs 100 to Rs 36,750 per kg but weekly-based delivery shed Rs 50 at Rs 36,400 per kg on lack of support from speculators.

    On the other hand, silver coins continued to be asked at last level of Rs 55,000 for buying and Rs 56,000 for selling of 100 pieces.

    PTI

    Read more about: gold silver
    Story first published: Friday, April 10, 2015, 15:07 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more