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Updated: March 14, 2014 16:01 IST

Gold, silver up on scattered buying, global cues

PTI
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Gold jewellery being displayed at a show room in Chennai. A file photo: R. Raghu.
The Hindu
Gold jewellery being displayed at a show room in Chennai. A file photo: R. Raghu.

Gold prices recovered by Rs 10 to Rs 30,810 per ten gram in the national capital on Friday on scattered buying by retailers amid a firm global trend.

Silver also strengthened for the fourth day by adding Rs 100 to Rs 47,000 per kg on increased offtake by industrial units.

Traders said scattered buying by retailers amid a firm global trend, where gold climbed to a six-month high, and escalating tension in Ukraine mainly boosted demand for the precious metals as a safe haven.

Gold in Singapore, which normally sets price trend on the domestic front, rose 0.5 per cent to $ 1,376.64 an ounce, the highest level since September 10 and silver added 0.2 per cent to $ 21.22 an ounce.

On the domestic front, gold of 99.9 and 99.5 per cent purity recovered by Rs 10 each to Rs 30,810 and Rs 30,610 per ten gram respectively. It had lost Rs 220 on Thursday.

Sovereign held steady at Rs 25,350 per piece of eight gram.

On the other hand, silver ready rose further by Rs 100 to Rs 47,000 for per kg and weekly-based delivery by Rs 160 to Rs 46,850 per kg. The white metal had gained Rs 970 in the previous three sessions.

However, silver coin lacked necessary buying support and plunged by Rs 1,000 to Rs 86,000 for buying and Rs 87,000 for selling of 100 pieces.

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