Commodities

Gold, silver recover on firm global cues

PTI New Delhi | Updated on March 12, 2018

jewellery

Both the precious metals, gold and silver, recovered today on renewed buying by stockists, amid firm global cues. While silver surged by Rs 800 to Rs 54,300 per kg, gold rose by Rs 75 to Rs 21,195 per 10 grams.

Trading sentiment turned better after gold rose the most in a week in the global markets on rising demand as investment haven after tensions mount in Libya and protests spread to Saudi Arabia.

In the global markets, gold rose by $9.30 to $1,421.80 an ounce, the biggest gain since March 4 and silver by 2.5 per cent to $35.93 an ounce.

Besides, buying by stockists and jewellers for the ongoing marriage season further fuelled the market sentiment.

At the domestic front, silver ready staged a strong comeback and surged by Rs 800 to Rs 54,300 per kg. It lost Rs 1,100 on Friday. Silver weekly-based delivery followed suit and shot up by Rs 920 to Rs 54,010 per kg.

Silver coins jumped up by Rs 700 to Rs 58,700 for buying and Rs 59,200 for selling of 100 pieces.

In line with a general firming trend, gold of 99.9 and 99.5 per cent purity rose by Rs 75 each to Rs 21,195 and Rs 21,075 per 10 grams, respectively. The metal lost Rs 200 in the previous trade.

However, sovereign remained stable at Rs 17,450 per piece of eight grams in limited deals.

Published on March 12, 2011

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