Gold prices recovered by Rs. 40 to Rs. 26,800 per ten gram at the bullion market in the national capital on Tuesday on scattered buying by jewellers and retailers to meet ongoing wedding season demand and a firming global trend.
Silver, however, remained under selling pressure and fell further by Rs. 685 to Rs. 35,815 per kg.
Traders said some buying from jewellers and retailers, driven by ongoing wedding season and a firming global trend where gold rose to over two-week high as a weakening dollar spurred demand for a safe-haven, mainly influenced the sentiment.
Gold in Singapore, which normally determine price trend on the domestic front, gained 0.6 per cent to $1,193.45 an ounce.
In Delhi, gold of 99.9 and 99.5 per cent purity recovered by Rs. 40 each to Rs. 26,800 and Rs. 26,600 per ten gram respectively. It had lost Rs. 90 in Monday’s trade.
Sovereign, however, continued to be traded at the last level of Rs. 23,800 per piece of eight gram in limited deals.
On the other hand, silver ready fell by Rs. 685 to Rs. 35,815 per kg, while weekly-based delivery strengthened by Rs. 95 to Rs. 36,250 per kg on speculators’ buying.
Meanwhile, silver coins were unaltered at Rs. 60,000 for buying and Rs. 61,000 for selling of 100 pieces.
