Gold prices recovered by Rs 120 to Rs 18,970 per ten grams in the national capital on Wednesday on emergence of buying by stockists and jewellers on the back of a firming trend in global markets.

Silver also gained Rs 250 to Rs 29,850 per kg on increased offtake by industrial users and coin-makers.

The trading sentiment improved after the metal recovered in international markets from a steep fall in the previous session.

Gold in overseas markets, which normally sets the price trend on the domestic front, added USD 1.40 to USD 1,241.45 an ounce. The yellow metal had lost USD 23.90 on the New York Exchange in the previous session.

Prices of standard gold of 99.9 per cent purity and gold of 99.5 per cent purity recovered by Rs 120 each to Rs 18,970 and Rs 18,870 per ten grams respectively. They had lost Rs 295 each in Tuesday’s trading.

However, sovereigns held steady at Rs 14,650 per piece of eight grams.

In line with the general firming trend, silver ready rose by Rs 250 to Rs 29,850 per kg and weekly-based delivery by Rs 145 to Rs 29,600 per kg.

Silver coins also gained Rs 100 to Rs 34,500 for buying and Rs 34,600 for selling of 100 pieces.

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