Gold regains shine, bounces Rs 230 on global uptrend

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New Delhi | Published: January 28, 2017 3:25:11 PM

Gold kept its glitter, with prices recovering by Rs 230 to Rs 29,380 per 10 grams today, tracking a firm trend overseas amid pick-up in buying by local jewellers at the domestic spot market.

USD, Gold, Global uptrend, Jewellers, Bullion traders, Silver coins, Silver, domestic spot marketGold kept its glitter, with prices recovering by Rs 230 to Rs 29,380 per 10 grams.(Reuters)

Gold kept its glitter, with prices recovering by Rs 230 to Rs 29,380 per 10 grams today, tracking a firm trend overseas amid pick-up in buying by local jewellers at the domestic spot market.

Silver rescaled the Rs 41,000-mark by jumping Rs 850 to Rs 41,800 per kg on increased offtake by industrial units and coin makers.

Bullion traders attributed the recovery in gold prices to a firm trend overseas and pick-up in buying by local jewellers to meet the ongoing wedding season demand.

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Globally, gold ruled firm as it rose 0.25 per cent to USD 1,191.30 an ounce and silver by 2.27 per cent to USD 17.12 an ounce in New York yesterday.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity rebounded by Rs 230 each to Rs 29,380 and Rs 29,230 per 10 grams, respectively. It had lost Rs 575 in the previous two days.

Sovereign, however, held steady at Rs 24,300 per piece of eight grams.

Tracking gold, silver ready jumped Rs 850 to Rs 41,800 per kg and weekly-based delivery Rs 1,185 to Rs 41,830 per kg.

Silver coins, however, maintained steady at Rs 72,000 for buying and Rs 73,000 for selling of 100 pieces.

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