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Business News/ Market / Stock-market-news/  Gold, silver recover on wedding season demand, global cues
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Gold, silver recover on wedding season demand, global cues

Gold prices recovered by `90 to `27,880 per ten gram at the bullion market

Revival of buying by jewellers and retailers helped gold prices to recover. Photo: BloombergPremium
Revival of buying by jewellers and retailers helped gold prices to recover. Photo: Bloomberg

After two days of losses, gold prices recovered by 90 to 27,880 per ten gram at the bullion market on Tuesday on emergence of buying by jewellers and retailers at existing levels amid a firm global trend.

Silver also rebounded by 570 to 38,100 per kg on increased offtake by industrial units. Traders said besides revival of buying by jewellers and retailers at current levels to meet wedding season demand, a firm global trend, helped gold prices to recover.

Gold in Singapore, which normally sets price trend on the domestic front, advanced 0.6% to $1,245.98 an ounce and silver added 0.4% to $17.06 an ounce. In the national capital, gold of 99.9% and 99.5% purity traded higher by 90 each to 27,880 and 27,680 per ten gram respectively. The precious metal had lost 510 in last two sessions.

Sovereign, however, held steady at 23,900 per piece of eight gram. In line with a overall trend, silver ready rebounded by 570 to 38,100 per kg and weekly-based delivery by 565 to 37,715 per kg. On the other hand, silver coins traded at last level of 61,000 for buying and 62,000 for selling of 100 pieces.

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Published: 10 Feb 2015, 05:32 PM IST
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