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Gold recovers on fresh buying

Published by Metro India News on July 05, 2015 00:08:58 AM

Gold prices recovered by Rs 50 to Rs 26,550 per 10 grams at the bullion market on Saturday, snapping its three-day falling streak, on emergence of buying by jewellers and retailers at prevailing levels. Silver also advanced by Rs 200 to Rs 36,200 per kg on pickup in demand from industrial units.

Bullion traders said revival of buying by jewellers and retailers at existing levels, helped gold to regain its glitter. In the national capital, gold of 99.9 and 99.5 per cent purity went up by Rs 50 each to Rs 26,550 and Rs 26,400 per ten grams respectively. The precious metal had lost Rs 450 in the previous three sessions. Sovereign, however, remained steady at Rs 23,300 per piece of eight gram in limited deals.

Silver ready continued its Friday’s gain and added another Rs 200 to Rs 36,200 per kg and weekly-based delivery gained Rs 180 to Rs 35,680 per kg. On the other hand, silver coins held steady at Rs 54,000 for buying and Rs 55,000 for selling of 100 pieces.