Gold prices up by Rs230 on global cues


New Delhi: Gold kept its glitter, with prices recovering by Rs230 to Rs29,380 per 10 grams on Saturday, tracking a firm trend overseas amid pick-up in buying by local jewellers at the domestic spot market.

Silver rescaled the Rs41,000-mark by jumping Rs850 to Rs41,800 per kg on increased offtake by industrial units and coin makers. Bullion traders attributed the recovery in gold prices to a firm trend overseas and pick-up in buying by local jewellers to meet the ongoing wedding season demand.

Globally, gold ruled firm as it rose 0.25% to $1,191.30 an ounce and silver by 2.27% to $17.12 an ounce in New York on Friday. In the national capital, gold of 99.9% and 99.5% purity rebounded by Rs230 each to Rs29,380 and Rs29,230 per 10 grams, respectively.

It had lost Rs575 in the previous two days. Sovereign, however, held steady at Rs24,300 per piece of eight grams. Tracking gold, silver ready jumped Rs850 to Rs41,800 per kg and weekly-based delivery Rs1,185 to Rs41,830 per kg. Silver coins, however, maintained steady at Rs72,000 for buying and Rs73,000 for selling of 100 pieces.

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