Gold regains shine, bounces Rs 110 on jewellers' buying

Gold prices recovered by Rs 110 to Rs 32,320 per 10 grams at the bullion market today, largely on the back of pick-up in buying by jewellers' to meet wedding season demand amid a firm trend overseas.

However, silver ready held steady at Rs 40,450 per kg in scattered deals from industrial units and coin makers.

Bullion traders attributed the recovery in gold prices to a firm trend overseas and buying by local jewellers to meet the ongoing wedding season demand at domestic spot market.

Globally, gold rose 0.48 per cent to USD 1,322.60 an ounce in New York yesterday.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity rebounded by Rs 110 each to Rs 32,320 and Rs 32,170 per ten grams, respectively. It had lost Rs 240 in the previous two days.

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

On the other hand, silver ready ruled flat at Rs 40,450 per kg, while weekly-based delivery lost Rs 200 at Rs 39,005 per kg.

Silver coins remained steady at Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces on scattered deals.