Ignoring a weak global trend, silver and gold prices recovered in the national capital today on emergence of festival buying.
While silver rose by Rs. 225 to Rs. 36,225 per kg on increase in industrial units buying, gold gained Rs. 10 to Rs. 19,720 per ten grams on retailers support.
Traders said fresh buying by retailers ahead of “Diwali and Danteras festival” mainly led to the rise in precious metal prices.
The buying activity was strong enough that reports of a fall in its prices in the international markets, which normally sets trend for the domestic front here, failed to influence the trading.
The gold in the Asian region fell by nine dollar to 1,331.30 dollar an ounce.
On the domestic front, the gold of 99.9 and 99.5 per cent purity rose by Rs. 10 each to Rs. 19,720 and Rs. 19,620 per ten gram respectively. Sovereign remained flat at Rs. 15,850 per piece of eight gram.
In line with a general firming trend, silver ready also rebounded by Rs. 225 to Rs. 36,225 per kg and weekly-based delivery by Rs. 250 to Rs. 35,750 per kg. Silver coins continued to trade around previous level of Rs. 36,000 for buying and Rs. 36,100 for selling of 100 pieces.
