Snapping a two-day losing streak, gold and silver prices recovered at the bullion market today on emergence of buying at existing lower levels amid a firming global trend.

While gold shot up by Rs 455 to Rs 27,640 per 10 grams, silver gained Rs 1,100 to Rs 63,600 per kg.

Trading sentiment turned better as gold gained in the global markets after its fall from record levels which spurred the demand for the precious metal as a safe haven investment, amid concerns that global economic growth is slowing.

In the global markets, which normally set the price trend at the domestic front, gold spurted by $46.60 to $1,835.10 an ounce and silver 1.15 per cent to $41.35 an ounce in New York last night.

At the domestic front, gold of 99.9 per cent and 99.5 per cent purity shot up by Rs 455 each to Rs 27,640 and Rs 27,490 per 10 grams, respectively. The lustrous metal has lost Rs 905 over the previous two trading sessions. Sovereigns followed suit, gaining Rs 100 to Rs 22,400 per piece of eight grams.

In a similar fashion, silver ready spurted by Rs 1,100 to Rs 63,600 per kg after losing Rs 2,100 over the last two days.

Silver for weekly-based delivery also rose sharply by Rs 1,095 to Rs 62,120 per kg. It has lost Rs 2,875 in the past two sessions. Silver coins also rose Rs 500 to Rs 70,000 for buying and Rs 71,000 for selling of 100 pieces.

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