Gold recovers on firm global cues; silver eases

Gold prices today recovered by Rs 90 to trade at Rs 19,230 per ten gram in the bullion market here on buying by jewellers and stockists amid firming global trends.

Silver, however, declined by Rs 40 to Rs 31,350 per kg on reduced offtake by industrial units and coin makers.

Trading sentiment turned better after gold gained in London due to weakness in dollar, marketmen said.

Gold in global markets, which normally set a price trend on the domestic front, added 3.40 dollar to 1,250.15 dollar an ounce.
     
Gold of 99.9 and 99.5 per cent purity rose by Rs 90 each to Rs 19,230 and Rs 19,130 per ten gram respectively. It had lost Rs 265 in previous two trading sessions. Sovereign remained flat at Rs 15,000 per piece of eight gram in restricted buying.
     
Silver ready lacked necessary buying support from industrial units and lost Rs 40 (rpt) 40 to Rs 31,350 per kg and weekly-based delivery by Rs 35 to Rs 31,365 per kg.
     
However, silver coins attracted buying support from coins makers and rose by Rs 200 to Rs 35,200 for buying and Rs 35,300 for selling of 100 pieces.