ALSO READGold plunges Rs 225 on muted demand from jewellers, silver dips by Rs 450 Gold sheds Rs 150 to Rs 30,250 per 10 gm on weak global cues, tepid demand Gold plunges Rs 300 on weak global cues, slack demand Gold tumbles Rs 200 on muted demand, global cues; silver dips by Rs 500 Gold recovers on renewed buying, silver surges ahead of Fed outcome
Reversing yesterday's slide, gold prices bounced back by Rs 135 to trade at over one-month high of Rs 30,500 per 10 grams at the bullion market on Friday, largely driven by a firm trend overseas amid a pick-up in buying by local jewellers.
Silver followed suit and recaptured the Rs 40,000-mark due to increased offtake by industrial units and coin makers.
In addition, increased buying by local jewellers at domestic spot market fuelled the uptrend, they said.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity rebounded by Rs 135 each to Rs 30,500 and Rs 30,350 per 10 grams, respectively, a level last seen on December 2. The precious metal had lost Rs 85 yesterday.
Sovereign, however, remained flat at Rs 24,700 per piece of eight grams.
Following gold, silver ready climbed by Rs 360 to Rs 40,000 and weekly-based delivery by Rs 220 to Rs 39,200 per kg.
Silver coins, however, remained unchanged at Rs 73,000 for buying and Rs 74,000 for selling of 100 pieces.