BackGold recovers on wedding season buying; global cues
Gold of 99.9 and 99.5% purity traded higher by Rs90 each to Rs25,740 and Rs25,590 per 10 grams, respectively
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New Delhi: After falling for two straight days, gold prices recovered by Rs90 to Rs25,740 per 10 grams in Delhi bullion market on Tuesday on fresh purchases by jewellers amid a firm global trend.
Bullion traders said emergence of buying by jewellers to meet ongoing wedding season demand and a firm global trend mainly led to recovery in the precious metal prices.
Gold in Singapore, which normally sets price trend on the domestic front, increased 0.3% to $1,072.72 an ounce, while in London it was trading 0.49% higher at $1,073.90.
In the national capital, gold of 99.9 and 99.5% purity traded higher by Rs90 each to Rs25,740 and Rs25,590 per 10 grams, respectively. The precious metal had lost Rs250 in the previous two days. The sovereign, however, remained steady at Rs22,200 per piece of eight grams in restricted activity.
Following gold, silver ready rose by Rs350 to Rs34,150 per kg and weekly-based delivery by Rs335 to Rs33,635 per kg. On the other hand, silver coins continued to be traded at last level of Rs48,000 for buying and Rs49,000 for selling of 100 pieces.
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