Gold, silver up on marriage season demand

Gold, silver up on marriage season demand
PTI
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First Published: Sat, Dec 10 2011. 03 39 PM IST

Updated: Sat, Dec 10 2011. 03 39 PM IST
New Delhi: Both gold and silver recovered on the bullion market here on Saturday on fresh buying by stockists and jewellers to meet the marriage season demand.
While gold gained Rs20 to reach Rs29,330 per 10 grams, silver moved up by Rs650 to Rs56,150 per kg.
Traders said fresh buying by stockists and jewellers for the ongoing marriage season mainly led to the recovery in both the precious metals.
A firming trend in the international markets, as the dollar’s decline boosted the demand for the metals as an alternative asset, also bolstered the trading sentiment, they added.
Gold added $5.50 dollar to $1,711.30 an ounce and silver rose by 1.80% to $32.23 an ounce in New York on Friday night.
Back home, gold of 99.9 and 99.5% purity rose by Rs20 each to Rs29,330 and Rs29,190 per 10 grams, respectively. The metal had lost Rs230 on Friday.
Sovereigns remained steady at Rs23,350 per piece of eight grams on restricted buying.
In a similar fashion, silver ready spurted by Rs650 to Rs56,150 per kg and weekly-based delivery by Rs505 to Rs56,935 per kg.
Silver coins rose by Rs500 to Rs62,000 for buying and Rs63,000 for selling of 100 pieces.
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First Published: Sat, Dec 10 2011. 03 39 PM IST
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