Snapping its five-day falling streak, gold rebounded by Rs. 660, its biggest one-day surge this year, to trade at Rs. 26,810 per ten grams at the bullion market on Saturday.
The precious metal, after five sessions of losses, recovered 2.1 per cent to USD 1,136.60 an ounce in New York on Friday as the U.S. payrolls rose less than expected in September and wages stagnated, weakening the case for the Federal Reserve to raise interest rates this year.
Silver also rose sharply by Rs. 1,200 to Rs. 35,800 per kg on increased offtake by industrial units and coin makers.
Bullion traders said sentiments got a boost after gold rebounded in global markets and revival of buying by jewellers and retailers at domestic markets at current levels.
In the national capital, gold of 99.9 and 99.5 per cent purity zoomed by Rs. 660 each, its biggest rise this year, to trade at Rs. 26,810 and Rs. 26,660 per ten grams respectively.
It had gained Rs. 600 previously on August 12.
The precious metal had lost Rs. 1,100 in the past five straight sessions.
Sovereign gold followed suit and rose by Rs. 200 to Rs. 22,300 per piece of eight grams.
Following gold, silver ready recorded a significant rally of Rs. 1,200 to Rs. 35,800 per kg but weekly-based delivery shed Rs. 70 to Rs. 34,575 per kg.
Silver coins soared by Rs. 1,000 to Rs. 50,000 for buying and Rs. 51,000 for selling of 100 pieces.
