Gold recovers on local demand; silver flat

Gold recovers on local demand; silver flat


New Delhi: In a restricted activity, gold prices recovered in the bullion market on 24 September, on renewed local demand and closed with moderate gain of Rs15 at Rs9,600 per ten gram.

Marketmen said renewed local demand on fears of further rise in gold prices mainly pushed up the yellow metal’s prices.

They said adequate stocks position against negligible enquiries by industrial units kept silver prices unchanged.

In Hong Kong, gold quoted lower at $734.20-734.70 an ounce against the last closing of $739.50-740.00.

Standard gold and ornaments saw local demand and recovered by Rs15 each at Rs9,600 and Rs9,450 per ten grams. Sovereign, however, ruled flat at Rs7,800 per piece of eight gram.

Silver ready and weekly-based delivery maintained their previous marks of Rs18,000 and Rs18,200 a kilo in limited deals.

But silver coins gained Rs100 at Rs24,000 for buying and Rs24,100 for selling of 100 coins on increased demand from coins makers ahead of festive season.