Gold price recoups after positive global leads, buying spurt

New Delhi: Gold received support from a positive global trend and fresh buying by local jewellers as the price recovered by Rs 25 to Rs 30,150 per 10 grams at the bullion market Tuesday.

However, silver gave up Rs 30 at Rs 43,850 per kg on lower offtake from industrial units and coin makers.

Traders attributed the rise in gold prices to a firm trend overseas and pick-up in buying by local jewellers driven by the ongoing wedding demand.

Globally, gold rose 0.08 percent to USD 1,253.10 an ounce in Singapore.

In the national capital, gold of 99.9 percent and 99.5 percent purity recovered by Rs 25 each to Rs 30,150 and Rs 30,000 per 10 grams, respectively. It had lost Rs 50 yesterday.

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

On the other hand, silver ready fell by 30 to Rs 43,850 per kg and weekly-based delivery by Rs 125 to Rs 43,260 per kg.

Silver coins, however, remained flat at Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces.