Silver rebounded by Rs. 1,050 to Rs. 58,300 per kg, while gold recovered by Rs. 50 to Rs. 22,870 per 10 grams on the bullion market today on emergence of buying by stockists and speculators amid a firming global trend.
Trading sentiments turned better after gold prices rose in London as a weaker dollar and concerns about Europe’s debt woes spurred the demand for the metals as an alternative investment.
Gold in global markets, traded $ 2.08, or 0.1 per cent higher at $ 1,539.23 an ounce and silver jumped by 1.2 per cent to $ 38.61 an ounce.
On the domestic front, both silver ready and weekly based delivery staged a strong comeback and climbed by Rs. 1,050 to Rs. 58,300 per kg.
However, silver coins remained steady at Rs. 65,000 for buying and Rs. 66,000 for selling of 100 pieces.
Similarly, the gold of 99.9 and 99.5 per cent purity strengthened by Rs. 50 each to Rs. 22,870 and Rs. 22,750 per 10 grams, respectively.
Sovereigns held steady at Rs. 18,700 per piece of eight grams.
