Gold, silver recover on jewellers’ buying, global cues
Gold of 99.9 and 99.5% purity went up by Rs200 each to Rs26,775 and Rs26,625 per ten gram respectively
New Delhi: After two day of losses, gold prices recovered by Rs200 to Rs26,775 per ten grams in Delhi bullion market on Wednesday on emergence of buying by jewellers and retailers at existing lower levels amid a firm global trend.
Traders said apart from buying by jewellers at prevailing levels, a firm global trend as the dollar retreated, raising appeal of the precious metals, mainly led to the recovery in the precious metal prices.
Gold in Singapore, which normally determines price trend on the domestic front, rose 0.5% to $1,189.15 an ounce.
Meanwhile, the government today raised import tariff value on gold to $385 per 10 grams and silver to $543 per kg, taking cues from firm global price trends. During the last fortnight of March, the tariff value on imported gold was $375 per 10 grams and on silver at $512 per kg.
In the national capital, gold of 99.9 and 99.5% purity went up by Rs200 each to Rs26,775 and Rs26,625 per ten gram respectively. Sovereign, however, remained steady at Rs23,700 per piece of gram in limited deals.
Similarly, silver ready recovered by Rs150 to Rs37,350 per kg and weekly-based delivery by Rs90 to Rs37,260 per kg. On the other hand, silver coins continued to be traded at last level of Rs56,000 for buying and Rs57,000 for selling of 100 pieces.
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