Home >market >stock-market-news >Gold rebounds on seasonal demand, global cues

New Delhi: Snapping its two-day falling streak, gold prices increased by Rs120 to Rs27,120 per 10 gm in Delhi bullion market on Saturday largely on increased buying by jewellers and retailers to meet ongoing wedding season demand.

Traders said fresh buying by jewellers and retailers, driven by ongoing wedding season and a firming global trend, mainly attributed recovery in gold prices.

Gold in New York, which normally set price trend on the domestic front, rose 0.2% to $1,213.10 an ounce in Friday’s trade.

In the national capital, gold of 99.9 and 99.5% purity rose by Rs120 each to Rs27,120 and Rs26,920 per ten gram respectively. It had lost Rs70 in last two trade. Sovereign gold also moved up by Rs50 to Rs23,700 per piece of eight gram. On the other hand, silver ready remained flat at Rs37,200 per kg but weekly-based shed Rs40 to Rs36,555 per kg on lack of speculative support.

Silver coins, however, continued to trade in a tight range in limited deals and settled around previous level of Rs59,000 for buying and Rs60,000 for selling of 100 pieces.

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