Gold recovers on low-level buying, firm global trend

Gold prices recovered by Rs 105 to Rs 31,320 per ten grams in the national capital Friday on revival of buying at existing lower levels amid a firming global trend.

PTI| Last Updated: Nov 29, 2013, 17:04 PM IST

New Delhi: Gold prices recovered by Rs 105 to Rs 31,320 per ten grams in the national capital Friday on revival of buying at existing lower levels amid a firming global trend.

Silver prices also rose by Rs 100 to Rs 44,900 per kg on fresh buying by jewellery makers and industrial units.

Traders said buying activity emerged for the ongoing marriage season as the metal remained weak in the previous session.

They said a firming trend in global markets as signs of demand in China and a weaker dollar further supported the uptrend in bullion.

Gold in Singapore, which normally sets price trend on the domestic front, rose by 0.50 percent to USD 1,249.90 an ounce and silver by one percent to USD 19.91 an ounce.

On the domestic front, gold of 99.9 and 99.5 percent purity rose by Rs 105 each to Rs 31,320 and Rs 31,120 per ten gram, respectively. Sovereign held unchanged at Rs 25,200 per piece of eight gram.

Silver ready rose by Rs 100 to Rs 44,900 per kg and weekly-based delivery by Rs 30 to Rs 44,080 per kg. Silver coins continued to be asked at last level of Rs 84,00 for buying and Rs 85,000 for selling of 100 pieces.