Gold begins 2016 with a glitter on jewellers buying

New Delhi: Gold prices rebounded by Rs 120 to Rs 25,510 per ten grams on the first trading day of 2016 at the bullion market Friday on revival of buying by jewellers and retailers.

However, silver held steady at Rs 33,300 per kg in scattered deals.

Traders said emergence of buying by jewellers and retailers mainly led to the recovery of gold prices.

In Delhi, gold of 99.9 and 99.5 percent purity recovered by Rs 120 each to Rs 25,510 and Rs 25,360 per ten grams respectively. It had lost Rs 260 yesterday.

Sovereign, however, traded at last level of Rs 22,200 per piece of eight grams in limited deals.

On the other hand, silver ready ended flat at Rs 33,300 per kg, while weekly-based delivery drifted by Rs 96 to Rs 33,352 per kg.

Silver coins held steady at Rs 46,000 for buying and Rs 47,000 for selling of 100 pieces.