Gold rebounds on buying by jewellers; silver ends higher

Gold rebounded by Rs 160 to Rs 28,360 per 10 grams in the national capital on Wednesday on increased buying by jewellers and retailers to meet the upcoming festive season demand.

In line with an overall trend, silver also recovered by Rs 200 to Rs 45,400 per kg on increased offtake by coin makers.

Traders said increased buying by jewellers and retailers, triggered by upcoming festive season, led to recovery in prices of the precious metal.

In Delhi, gold of 99.9 and 99.5 per cent purity recovered by Rs 160 each to Rs 28,360 and Rs 28,160 per 10

grams, respectively. It had tumbled by Rs 275 on Tuesday.

Sovereign followed suit and rose by Rs 100 to Rs 24,900 per piece of eight grams.

In line with a general firm trend, silver ready moved up by Rs 200 to Rs 45,400 per kg and weekly-based delivery by Rs 185 to Rs 45,095 per kg.

The white metal had lost Rs 200 in the previous session.

Silver coins spurted by Rs 1,000 to Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.