New Delhi: Posting this year’s biggest single-day rise of 840, gold on Tuesday regained the 27,000 per ten gram level after a gap of over one month in the national capital, tracking rebounds in global markets.

In addition, pick-up in domestic demand from jewellers and retailers for the wedding season also buoyed sentiment.

After losing 730 in last six sessions after the The Reserve Bank of India (RBI) eased imports curbs by scrapping 80:20 scheme, gold staged a strong comeback by rising 840 to close at 27,040 per ten grams, a level last seen on 30 October.

Silver also recorded a significant gain of 2,700 to 37,000 per kg on increased offtake by industrial units and coin makers.

Sentiment bolstered after gold surged by 3.69%, its biggest gain since 19 September, to $1,218.10 an ounce in New York on Monday, as rebound in crude price revived demand for the precious metal as stores of value, bullion traders said. Globally, silver also surged 7.3$ to $16.69 an ounce on Monday, the highest gain since September 2013.

Besides, rising domestic demand from jewellers and retailers for the ongoing wedding season too influenced precious metal prices, they said. In Delhi, gold of 99.9% and 99.5% purity zoomed up by 840 each to 27,040 and 26,840 per ten grams respectively.

Sovereign moved up by 100 to 23,700 per piece of eight gram. Following gold, silver ready spurted by 2,700 to 37,000 per kg and weekly-based delivery by 2,420 to 36,340 per kg. Silver coins recovered sharply by 3,000 to 61,000 for buying and 62,000 for selling of 100 pieces.

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