Gold, silver recover on jewellers’ buying

Tuesday, Jun 21, 2016,15:21 IST By Metrovaartha A A A

New Delhi | Gold and silver firmed up at the bullion market today on scattered buying by jewellers at the domestic spot market, even as the precious metals weakened overseas. While gold gained Rs 100 to Rs 29,750 per ten grams, silver rallied by Rs 300 to Rs 41,500 per kg.

According to traders, some buying by jewellers mainly led to the recovery in the prices. However, a weak trend overseas where gold fell for the third time in four days ahead of the UK referendum on whether to stay in the European Union due on Thursday, restricted the gains.

Globally, gold fell 0.5 per cent to USD 1,282.95 an ounce in Singapore. In the national capital, gold of 99.9 and 99.5 per cent purity rebounded by Rs 100 each to Rs 29,750 and Rs 29,600 per ten grams respectively. It had lost Rs 150 yesterday. Sovereign, however, held steady at Rs 23,100 per piece of eight grams in limited deals.

Silver ready too traded higher by Rs 300 to Rs 41,500 per kg and weekly-based delivery by Rs 285 to Rs 41,660 per kg. On the other hand, silver coins continued to be traded at last level of Rs 70,000 for buying and Rs 71,000 for selling of 100 pieces.