Gold, silver recover on low-level buying
New Delhi: Gold prices recovered by Rs 50 to Rs 31,000 per ten grams and silver by Rs 550 to Rs 54,250 per kg in the national capital Friday on revival of buying at prevailing lower levels.
Traders said some local buying mainly helped both gold and silver prices to recover some ground.
On the domestic front, gold of 99.9 and 99.5 percent purity recovered by Rs 50 each to Es 31,000 and Rs 30,800 per ten grams, respectively, after losing Rs 1,250 yesterday. Sovereign held steady at Rs 25,100 per piece of eight gram.
In line with a general firm trend, silver ready rebounded by Rs 550 to Rs 54,250 per kg, after losing Rs 1,800 in the previous session. However, silver weekly-based delivery lost Rs 1,400 at Rs 53,200 per kg on lack of speculators support.
Silver coins also met with resistance at prevailing higher levels and plunged by Rs 1,000 to Rs 87,000 for buying and Rs 88,000 for selling of 100 pieces.