Gold rallied by ₹40 to ₹33,200 per 10 gram at the bullion market on Monday, reversing a two-day losing trend on fresh buying by local jewellers to meet wedding season demand.
Silver, however, held steady at ₹40,100 per kg on scattered demand from coin makers.
Traders said emergence of buying by local jewellers to meet the ongoing wedding season demand at domestic spot market and a firm trend overseas, mainly led to the recovery in gold prices.
Globally, gold rose 0.09% to $1,283.40 an ounce in New York. Silver, however, fell 9.13% at $15.39 an ounce.
In the national capital, gold of 99.9% and 99.5% purities bounced back by ₹40 each to ₹33,200 and ₹33,050 per 10 gram, respectively. It had lost ₹140 in the previous two sessions.
Sovereign, however, continued to be traded at the previous level of ₹25,500 per piece of eight gram.
On the other side, silver ready held steady at ₹40,100 per kg on little doing, while silver weekly-based delivery fell by ₹58 to ₹39,140 per kg.
Silver coins, however, remained unaltered at ₹77,000 for buying and ₹78,000 for selling of 100 pieces.