Gold recovers on retail buying; silver falls

Gold recovered mainly due to seasonal demand and retail buying. File Photo

Gold recovered by Rs. 150 to Rs. 31,650 per ten grams at the national capital on Saturday, mainly due to seasonal demand and retail buying.

On the other hand, silver fell by Rs. 300 to Rs. 48,500 per kg on reduced off-take at higher levels.

Traders said retail buying for the festive and marriage season helped gold to recover while reduced off-take by industrial units at prevailing higher levels kept silver lower.

In the national capital, gold of 99.9 and 99.5 per cent purity recovered by Rs. 150 each to Rs. 31,650 and Rs. 31,450 per ten grams, respectively. It had lost Rs. 120 on Friday.

Sovereign held steady at Rs. 25,200 per piece of eight gram in restricted buying activity.

On the other hand, silver ready fell by Rs. 300 to Rs. 48,500 per kg and weekly-based delivery by the same margin to Rs. 48,200 per kg. The white metal had gained Rs. 1,750 in last three sessions.

However, silver coins spurted by Rs. 1,000 to Rs. 86,000 for buying and Rs. 87,000 for selling of 100 pieces on fresh buying.