Gold prices recovered by Rs. 55 to Rs. 18,655 per ten grams in the national capital today on fresh buying by stockists and jewellers after a firming trend in global markets.
Silver also rose by Rs. 150 to Rs. 29,150 per kg on increased offtake by industrial units and coin—makers.
Trading sentiment turned strong after gold rose the most in three weeks in global markets on speculation the lowest prices since May will revive demand.
Gold in overseas markets, which normally set trend on the domestic front, rose 13.70 dollar to 1,209.80 dollar an ounce, the biggest gain since June 17.
Traders said the buying by stockists and jewellers for the current marriage season also supported the uptrend in gold and silver prices.
Gold of 99.9 per cent and 99.5 per cent purity recovered by Rs. 55 each to Rs. 18,655 and Rs. 18,555 per ten grams respectively. The metal had lost Rs. 100 yesterday.
Sovereigns also rose by Rs. 75 to Rs. 14,675 per piece of eight grams.
In line with the general firming trend, silver ready and weekly—based delivery rose by Rs. 150 each to Rs. 29,150 and Rs. 28,870 per kg.
Silver coins continued to be asked around previous levels of Rs. 34,100 for buying and Rs. 34,200 for selling of 100 pieces.
Keywords: bullion report