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Rediff.com  » Business » Gold, silver up on revival of buying, global cues

Gold, silver up on revival of buying, global cues

Last updated on: January 18, 2014 16:36 IST

Bullion graphGold prices rebounded by Rs 210 to Rs 30,180 per ten grams in the national capital on Saturday following revival of buying by stockists for the marriage season coupled with a higher global trend.

Silver also recovered Rs 600 to Rs 45,200 per kg on increased offtake by industrial units and coin makers.

Traders said revival of buying by stockists for the marriage season and a higher global trend, after Federal Reserve Bank of Minneapolis said policy makers need to do more to stimulate the economy, mainly influenced the sentiment.

Gold in New York, which normally sets price trend on the domestic front, rose by 0.9 per cent to $1,251.90 an ounce and silver by 1.2 per cent to $20.30 an ounce.

On the domestic front, gold of 99.9 and 99.5 per cent purity rose by Rs 210 to Rs 30,180 and Rs 29,980 per ten grams, respectively.

It had declined by Rs 80 yesterday. Sovereign remained steady at Rs 25,000 per piece of eight gram in limited deals.

Silver ready shot up by Rs 600 to Rs 45,200 per kg and weekly-based delivery by Rs 635 to Rs 45,135 per kg.

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

Silver coins also spurted by Rs 1,000 to Rs 86,000 for buying and Rs 87,000 for selling of 100 pieces.

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