Gold prices recovered by Rs 85 to Rs 26,625 per 10 grams at the bullion market today on the back of buying by jewellers and retailers at prevailing levels amid a firm global trend.
Silver, however, remained under selling pressure and lost Rs 100 at Rs 36,200 per kg.
Bullion traders said apart from fresh buying by jewellers and retailers at existing levels, a firming global trend where gold rose from a three-month low on speculation of increased demand in China, mainly influenced gold prices.
Gold in Singapore, which normally sets price trend on the domestic front, rose 0.4 per cent to USD 1,172.45 an ounce.
In the national capital, gold of 99.9 and 99.5 per cent purity recovered by Rs 85 each to Rs 26,625 and Rs 26,425 per 10 grams, respectively. It had recorded this year’s biggest fall of Rs 520 on Saturday.
Sovereign, however, held steady at Rs 23,600 per piece of eight grams.
On the other hand, silver ready fell further by Rs 100 to Rs 36,200 per kg, while weekly-based delivery held steady at Rs 36,000 per kg for want of support.
However, silver coins met with resistance and plunged by Rs 1,000 to Rs 56,000 for buying and Rs 57,000 for selling of 100 pieces.