Gold recovered marginally by Rs. 5 to Rs. 19,145 per ten grams in the national capital today on emergence of buying by stockists and jewellers triggered by a firm global trend.
Silver also rebounded by Rs. 135 to Rs. 30,535 per kg on fresh buying by industrial units and coins manufacturers.
Buying activity in gold picked up as metal prices rose in global markets, on speculation that the dollar will weaken, boosting the appeal of the precious metal as an alternative asset.
Gold in global markets, which normally sets a price trend on the domestic front, rose by 20 cents to settle at USD 1,237.90 an ounce on the Comex in New York. The precious metal gained 0.7 per cent this week.
Stockists and jewellers purchased the metal for the festival season, after the prices fell in the previous session, they said.
Gold of 99.9 per cent and gold of 99.5 per cent purity recovered by Rs. 5 each to Rs. 19,145 and Rs. 19,045 per ten grams, respectively. They had lost Rs. 60 each in the previous session.
However, sovereign, continued to trade around their previous level of Rs. 14,900 per piece of eight gram.
In line with a general trend, silver ready rebounded by Rs. 135 to Rs. 30,535 per kg and weekly-based delivery by Rs. 155 to Rs. 30,390 per kg. Silver coins also gained Rs. 100 to Rs. 34,800 for buying and Rs. 34,900 for selling of 100 pieces.
Keywords: bullion report