Gold gains Rs 255 on low level buying
New Delhi: Snapping its two-day losing streak, gold rebounded by Rs 255 to Rs 30,755 per ten grams in the national capital today on low level buying by stockists and retailers for the ongoing marriage season.
However, silver remained under selling pressure for the sixth straight session and shed Rs 30 to Rs 43,470 per kg. It had lost Rs 1,575 in the previous five sessions.
Traders said low level buying by stockists and retailers for the ongoing marriage season led the recovery in gold prices.
They said silver remained under selling pressure against reduced offtake by industrial units and surrendered fresh ground.
On the domestic front, gold of 99.9 and 99.5 percent purity rebounded by Rs 255 each to Rs 30,755 and Rs 30,555 per ten grams, respectively. It had lost Rs 750 in last two days.
Sovereign rose by Rs 100 to Rs 25,200 per piece of eight gram.
On the other hand, silver ready continued to slide by Rs 30 to Rs 43,470 per kg and weekly-based delivery by the same margin to Rs 44,020 per kg.
Silver coins held steady at Rs 82,000 for buying and Rs 83,000 for selling of 100 pieces.