Gold recovers on stockists buying, global cues

Gold prices recovered by Rs 200 to Rs 30,400 per ten grams in the national capital today on fresh buying by stockists for the marriage season amid a firm global trend.
Silver also moved up by Rs 320 to Rs 45,120 per kg on increased offtake by industrial units and coin makers.
Traders said stockists buying for the marriage season amid a firm global trend mainly led the recovery in gold prices.
Gold in New York, which normally sets price trend on the domestic front, rose by 0.30 per cent, to USD 1,252.40 an ounce; and silver by 1.17 per cent to USD 20.41 an ounce.

On the domestic front, gold of 99.9 and 99.5 per cent purity recovered sharply by Rs 200 to Rs 30,400 and Rs 30,200 per ten grams, respectively. It had shed Rs 15 yesterday. Sovereign held steady at Rs 25,100 per piece of eight gram.
Silver ready moved up by Rs 320 to Rs 45,120 per kg and weekly-based delivery by Rs 355 to Rs 45,120 per kg respectively, while silver coins held steady at Rs 85,000 for buying and Rs 86,000 for selling of 100 pieces.