Gold prices recover by Rs 150 to Rs 29,500 per 10 grams

New Delhi: Gold prices recovered by Rs 150 to Rs 29,500 per 10 grams at the bullion market on Monday, tracking a firm trend overseas amid fresh buying by local jewellers.

Silver also advanced by Rs 100 to Rs 41,300 per kg on pick up in demand from industrial units and coin makers.

Bullion traders said that apart from a firm global trend, buying by local jewellers at the domestic spot market to meet wedding season demand mainly led to rise in gold prices.

Globally, gold rose 0.66 percent to USD 1,204.80 an ounce and silver 0.33 percent to USD 16.86 an ounce in Singapore.

In the national capital, gold of 99.9 percent and 99.5 percent purity recovered by Rs 150 each to Rs 29,500 and Rs 29,350 per 10 grams respectively. It had lost Rs 100 in Saturday's trade.

Sovereign, however, remained steady at Rs 24,300 per piece of eight grams.

Silver ready rose further by Rs 100 to Rs 41,300 per kg and weekly-based delivery by Rs 220 to Rs 41,220 per kg.

On the other hand, silver coins were unaltered at Rs 72,000 for buying and Rs 73,000 for selling of 100 pieces.