Gold, silver prices in Delhi recover on global cues, jewellers buying

Jul 17 2014, 15:47 IST
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SummaryGold prices recovered by Rs 175 to Rs 28,350 per ten gram in Delhi today...

Gold prices recovered by Rs 175 to Rs 28,350 per ten gram in Delhi today, tracking a firming global trend amidst fresh buying by jewellers and retailers.

Silver also moved up by Rs 150 to Rs 45,000 per kg on increased offtake by industrial units and coin makers.

Traders said apart from fresh buying by jewellers and retailers, firm global trend amid signs of increased demand in China and India, the world's two largest consumers, influenced gold prices.

Globally, gold rose by 0.70 per cent to USD 1,308.31 an ounce in Singapore. Silver also added 0.3 per cent to USD 20.82 an ounce.

In Delhi, gold of 99.9 and 99.5 per cent purity rose by Rs 175 each to Rs 28,350 and Rs 28,150 per ten gram, respectively. It had lost Rs 555 in the previous three sessions.

Sovereign, however, remained steady at Rs 24,800 per piece of eight gram.

In a similar fashion, silver ready gained Rs 150 to Rs 45,000 per kg and weekly-based delivery by Rs 210 to Rs 44,935 per kg. Silver coins were also in demand and strengthened by Rs 1,000 to Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.

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