Gold recovers on firm global trend, silver steady | business | Hindustan Times
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Gold recovers on firm global trend, silver steady

Gold prices recovered by Rs 70 to Rs 18,800 per ten grams in the capital today on emergence of buying by stockists and jewellers.

business Updated: Jul 03, 2010 16:07 IST

Gold prices recovered by Rs 70 to Rs 18,800 per ten grams in the capital on Saturday on emergence of buying by stockists and jewellers.

The trading sentiment turned better after gold climbed from a five-week low in global markets on demand for a value commodity amid economic concerns in the US and Europe.

Gold in overseas markets, which normally sets the price trend on domestic front, rebounded by $11.90 to $1,211.30 an ounce.

The gold of 99.9 per cent purity and 99.5 per cent purity recovered by Rs 70 each to Rs 18,800 and Rs 18,700 per ten grams respectively. The metal had recorded biggest fall of Rs 410 each in yesterday's trading.

However, sovereigns held steady at Rs 14,575 per piece of eight grams.

On the other hand, silver was steady at Rs 29,050 per kg, while silver weekly-based delivery recovered by Rs 70 to Rs 28,755 per kg on speculative buying.

Silver coins remained steady at Rs 34,100 for buying and Rs 34,200 for selling of 100 pieces.