Gold reclaims Rs 30,000-mark on global cues, jewellers purchase

New Delhi: Gold prices reclaimed the Rs 30,000-mark for the first time in over six weeks by climbing Rs 200 per 10 grams on Saturday. The recovery was seen on basis of global cues and increased purchase in jewellery.

However, silver eased further by Rs 100 to Rs 41,700 per kg due to reduced offtake by industrial units and coin makers.

Traders said apart from a firm trend overseas, pick up in buying by local jewellers to meet the wedding season demand at domestic spot market, mainly led to rise in gold prices.

Globally, gold rose by 0.17 per cent to USD 1,283.90 an ounce in New York yesterday.

In the national capital, gold of 99.9 and 99.5 per cent purity surged by Rs 200 each to Rs 30,000 and Rs 29,850 per 10 grams, respectively. The precious metals had lost Rs 100 in last two days.

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

On the other hand, silver ready traded lower by Rs 100 to Rs 41,700 per kg and weekly-based delivery by Rs 110 to Rs 41,270 per kg.

Silver coins, however, continued to be traded at previous level of Rs 72,000 for buying and Rs 73,000 for selling of 100 pieces

With PTI Inputs