Gold price rebounds by Rs 190 to Rs 29,620 per 10 grams

New Delhi: Gold prices rebounded by Rs 190 to Rs 29,620 per 10 grams at the bullion market Friday, triggered by a firm trend overseas amid fresh buying by local jewellers.

Silver recaptured the Rs 39,000-mark on the back of increased offtake by industrial units and coin makers.

Traders said besides firm trend overseas, fresh buying by local jewellers to meet festive season demand mainly led to the recovery in prices of precious metals.

Globally, gold rose 0.08 percent to USD 1,268.90 an ounce and silver by 0.36 percent to USD 16.71 an ounce in Singapore.

In the national capital, gold of 99.9 percent and 99.5 percent purity climbed by Rs 190 each to Rs 29,620 and Rs 29,470 per 10 grams, respectively. The precious metal had lost Rs 220 in the previous three sessions.

Sovereign, however, remained flat at Rs 24,500 per piece of eight grams.

Following gold, silver ready rose by Rs 450 to Rs 39,150 per kg and weekly-based delivery by Rs 420 to Rs 38,170 per kg.

Silver coins, however, continued to be traded at previous level of Rs 72,000 for buying and Rs 73,000 for selling of 100 pieces.