Gold prices recovered by Rs. 85 to Rs. 28,710 per ten grams in the national capital on Wednesday on increased buying by stockists and jewellers for the wedding season amid a firm global trend.
Silver also gained Rs. 100 to Rs. 44,800 per kg on increased off-take by industrial units and coin makers.
In the overseas markets, which normally sets price trend on the domestic front, gold traded a shade higher by 0.05 per cent to $1,319 an ounce and silver by 0.14 per cent to $20.93 an ounce in New York in Tuesday’s trade.
In Delhi, gold of 99.9 and 99.5 per cent purity recovered by Rs. 85 each to Rs. 28,710 and Rs. 28,510 per ten grams, respectively, after losing Rs. 160 on Tuesday.
Sovereign, however, remained steady at Rs. 24,900 per piece of eight grams in scattered deals.
In line with a general firm trend, silver ready rose by Rs. 100 to Rs. 44,800 per kg while weekly-based delivery shed Rs. 30 to Rs. 44,200 per kg on lack of buying support from speculators.
Silver coins, however, remained flat at Rs. 79,000 for buying and Rs. 80,000 for selling of 100 pieces in restricted buying at prevailing levels.