Gold, silver bounce back on global cues, jewellers buying

After yesterday's plunge, gold bounced back to trade Rs 155 higher at Rs 25,530 per 10 grams at the bullion market today, taking positive cues from overseas markets amid fresh purchases by domestic jewellers.
Silver followed suit and spurted by Rs 550 to Rs 33,800 per kg.
Bullion traders said apart from a firm global trend, emergence of buying by jewellers at the domestic market, mainly led to recovery in the precious metal prices.
Globally, gold rose 1.48 per cent to USD 1,066.10 an ounce and silver by 2.89 per cent to USD 14.08 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 rebounded by Rs 155 each to Rs 25,530 and Rs 25,380 per 10 grams, respectively. The metal had lost Rs 265 yesterday.
Sovereign also moved up by Rs 100 to Rs 22,200 per piece of eight grams.
Tracking gold, silver ready surged by Rs 550 to Rs 33,800 per kg and weekly-based delivery by Rs 655 to Rs 33,935 per kg.
On the other hand, silver coins remained steady at Rs 47,000 for buying and Rs 48,000 for selling of 100 pieces in limited deals.