Gold, silver rebound on low level buying

Snapping a two-day falling trend, gold and silver prices rebounded in the national capital today on revival of buying by retailers and stockists at existing lower levels.
While gold gained by Rs 195 to Rs 30,180 per 10 gm, silver rose by Rs 500 to Rs 55,250 per kg on increased offtake by jewellery fabricators and industrial units.
Traders said revival of buying by retailers and stockists at existing lower levels after steep fall in previous few sessions mainly led the recovery.
On the domestic front, gold of 99.9 and 99.5 per cent purity rebounded by Rs 195 each to Rs 30,180 and Rs 29,980 per 10 gm, respectively. The metal had lost Rs 345 in last two sessions. Sovereign continued to be asked around last level of Rs 25,300 per piece of eight gram in scattered deals.

In line with a general firm trend, silver ready recovered by Rs 500 to Rs 55,250 per kg and weekly-based delivery by Rs 1,765 to Rs 54,925 per kg on speculative buying. The white metal had lost Rs 850 in the previous two sessions.
On the other hand, silver coins held steady at Rs 82,000 for buying and Rs 83,000 for selling of 100 pieces.