Gold recovers on global cues; silver remains weak
Gold is trading at Rs 27,450 per ten grams and silver falls down to Rs 41,000 per kg
New Delhi: Gold prices recovered by Rs 50 to Rs 27,450 per ten gram in the national capital today on scattered buying by jewellers, tracking a firming trend overseas. However, silver remained under selling pressure and fell further by Rs 490 to Rs 41,000 per kg.
Traders attributed the recovery in gold prices to a better trend in global markets. Gold in London, which normally sets price trend on the domestic front, added 0.2 per cent to USD 1,225.54 an ounce. In Delhi, gold of 99.9 and 99.5 per cent purity rose by Rs 50 each to Rs 27,450 and Rs 27,250 per ten gram respectively. It had lost Rs 60 yesterday. Sovereign, however, remained flat at Rs 24,400 per piece of eight gram in restricted buying from retailers.
On the other hand, silver ready declined by Rs 490 to Rs 41,000 per kg and weekly-based delivery by Rs 280 to Rs 41,070 per kg. The white metal had lost Rs 110 in the previous session. Meanwhile, silver coins traded at last level of Rs 71,000 for buying and Rs 72,000 for selling of 100 pieces.