Gold regains shine, bounces Rs110 on jewellers’ buying
Gold prices recover by Rs110 to Rs32,320 per 10 grams at the bullion market, largely on the back of pick-up in buying by jewellers’ to meet wedding season demand
New Delhi: Gold prices recovered by Rs110 to Rs32,320 per 10 grams at the bullion market on Saturday, largely on the back of pick-up in buying by jewellers’ to meet wedding season demand amid a firm trend overseas.
However, silver ready held steady at Rs40,450 per kg in scattered deals from industrial units and coin makers. Bullion traders attributed the recovery in gold prices to a firm trend overseas and buying by local jewellers to meet the ongoing wedding season demand at domestic spot market.
Globally, gold rose 0.48% to $1,322.60 an ounce in New York on Friday. In the national capital, gold of 99.9% and 99.5% purity rebounded by Rs110 each to Rs32,320 and Rs32,170 per ten grams, respectively. It had lost Rs240 in the previous two days.
Sovereign, however, held steady at Rs24,800 per piece of eight grams. On the other hand, silver ready ruled flat at Rs40,450 per kg, while weekly-based delivery lost Rs200 at Rs39,005 per kg. Silver coins remained steady at Rs75,000 for buying and Rs76,000 for selling of 100 pieces on scattered deals.
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