Snapping out of a five-day long losing streak, gold prices in the Capital on Wednesday recovered by Rs. 125 to Rs. 18,600 per ten gram on the back of a firming trend in the global markets.
Silver also gained Rs. 80 to Rs. 28,980 per kg on increased industrial off-take.
Market analysts said fresh buying by stockists and retailers amid firming trend in New York last evening led to the rise in gold and silver prices.
Gold price in global markets, which usually sets the trend at the domestic level, rose by USD 8.10 to USD 1192.20 an ounce.
The gold with 99.99 purity and 99.5 purity recovered by Rs. 125 each to Rs. 18,600 and Rs. 18,500 per ten grams respectively. Sovereign also gained Rs. 75 to Rs. 14,700 per piece of eight gram.
Silver prices, in agreement with the broad firming trend, rose by Rs. 80 to Rs. 28,980 per kg while weekly—based delivery gained by Rs. 70 to Rs. 28,690 per kg.
Silver coins also traded higher by Rs. 100 to Rs. 34,100 for buying and Rs. 34,200 for selling of 100 pieces.
