Gold recovers, up Rs 85

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Posted: 2008-01-19 19:15:28+05:30 IST
Updated: Jan 19, 2008 at 1931 hrs IST

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Gold rises above Rs 12,000 Gold strengthens on positive global advices Gold futures down on stronger rupee Gold tumbles Rs 620 as festival demand ends

New Delhi, January 19:: Gold prices recovered by Rs 85 at Rs 11,410 per 10 gram on revival of buying by stockists amid strong global trend and heavy seasonal demand.

The precious metal, which lost Rs 85 in yesterday, rose on reports of the gold futures posting a small gain on short covering by market players in the US last evening.

February gold rose 1.20 dollar to 881.70 dollar an ounce on the Comex division of the New York Mercantile Exchange.

Silver also finished higher, seemingly far better than gold for the second day.

The overseas market had immediate impact on the domestic market here. Silver spurted by Rs 350 to Rs 20,400 per kg and weekly-based deliver by Rs 365 to Rs 20,890 per kg. Silver coins rose by Rs 100 at Rs 25,500 for buying and Rs 25,600 for selling of 100 pieces.

Standard gold and ornament rose by Rs 85 each at Rs 11,410 and Rs 11,260 per 10 gram. Sovereign held unchanged at Rs 9,100 per piece of eight gram.

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Gold recovers, up Rs 85

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