Gold recovered by Rs 100 to Rs 31,250 per 10 grams today on fresh buying by jewellers at the domestic spot market to meet retailers’ demand even as the metal weakened overseas.
Silver also rebounded by Rs 280 to Rs 44,700 per kg due to increased offtake by industrial units and coin makers.
Traders said fresh buying by jewellers to meet festive season demand from retailers led to trecovery in the precious metal prices.
They said, however, a weak trend overseas capped the gains.
Globally, gold fell 0.08 per cent to $1,320.50 an ounce in New York yesterday after Fed chair Janet Yellen in an address to central bankers in Wyoming said the case for an increase in interest rate has strengthened.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity went up Rs 100 each to Rs 31,250 and Rs 31,100 per 10 grams, respectively. The metal had lost Rs 100 yesterday.
Sovereign, however, remained flat at Rs 24,300 per piece of eight grams in limited deals.
Tracking gold, silver ready recovered Rs 280 to Rs 44,700 per kg and weekly-based delivery by Rs 115 to Rs 43,975 per kg.
On the other hand, silver coins continued to be traded at the previous level of Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.