Gold recaptures Rs 32,000-mark on global cues, local jewellers' buying

Gold recaptured the Rs 32,000-level by gaining Rs 100 to trade at Rs 32,050 per 10 gram at the bullion market on Saturday, extending its rising streak to the fourth straight day on persistent buying by local jewellers amid firm trend overseas.

Silver also strengthened by Rs 100 to Rs 41,100 per kg, backed by increased offtake by industrial units and coin makers.

Traders said increased buying by local jewellers to meet retailers' demand at domestic spot market and a firm trend overseas kept gold prices higher.

Globally, gold rose by 0.17 per cent to $1,299 an ounce and silver by 0.60 per cent to $16.77 an ounce in New York in yesterday's trade.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity rose further Rs 100 each to Rs 32,050 and Rs 31,900 per ten gram, respectively. It had gained Rs 350 in the previous three sessions.

Sovereign gold, however, held steady at Rs 24,800 per piece of eight gram.

In step with gold, silver ready advanced by Rs 100 to Rs 41,100 and weekly-based delivery by Rs 40 to Rs 40,410 per kg.

Silver coins, however, remained flat at Rs 76,000 for buying and Rs 77,000 for selling of 100 pieces.