New Delhi: Gold recovered to touch its one-month high of Rs9,000 per ten grams in the bullion market today on emergence of buying by stockists and retail customers, enthused by higher overseas cues.
Marketmen said apart from firming trend in global markets, a pick up in local demand in view of start of festival season also helped push up gold prices.
However, silver dropped on selling by stockists amidst lower overseas advices.
In Asia, gold added 47 cents to $662.97 an ounce while silver fell one cent to $11.75.
Standard gold and ornaments edged up to touch one-month high of Rs 9,000 and Rs8,850 per ten grams. These levels were last seen on 20 July. Sovereign, followed suit and gained Rs25 at Rs7,625 per piece of eight gram.
On the other hand, silver ready dropped by Rs175 at Rs16,550 a kilo while weekly-based delivery dipped by Rs300 at Rs16,300 a kilo on persistent selling by speculators.
However, silver coins hardly managed to hold previous level of Rs23,300 for buying and Rs23,400 for selling of 100 coins.