 "Gold, silver recover on global cues, wedding season demand")
After two days of losses, gold regained its glitter by surging Rs 210 at Rs 27,080 per 10g at the bullion market on positive global cues, amid pick-up in demand from jewellers at prevailing levels.
Silver also gained Rs 200 at Rs 37,000 a kg on increased offtake by industrial units and coin makers.
Traders said a firm global trend, where gold recovered from a two-week low after reports showed signs of uneven expansion in US economy, boosting speculation that the Federal Reserve may push back the timing of the first interest rate increase since 2006, mainly boosted the sentiments here.
Gold in Singapore, which normally sets price trend on the domestic front, rose by 0.4 per cent to $1,207.70 an ounce and silver by 0.3 per cent to $16.40 an ounce.
Besides, emergence of buying by jewellers and retailers to meet wedding season demand, supported the upside.
In the Delhi capital, gold of 99.9 and 99.5 per cent purity flared up by Rs 210 each to Rs 27,080 and Rs 26,930 per 10g, respectively. It had lost Rs 250 in last two days.
The Sovereign moved up by Rs 100 to Rs 23,700 per piece of eight grams.
In a similar fashion, silver ready rose by Rs 200 to Rs 37,000 a kg and weekly-based delivery by Rs 325 to Rs 36,670 a kg.
Silver also gained Rs 200 at Rs 37,000 a kg on increased offtake by industrial units and coin makers.
Traders said a firm global trend, where gold recovered from a two-week low after reports showed signs of uneven expansion in US economy, boosting speculation that the Federal Reserve may push back the timing of the first interest rate increase since 2006, mainly boosted the sentiments here.
Gold in Singapore, which normally sets price trend on the domestic front, rose by 0.4 per cent to $1,207.70 an ounce and silver by 0.3 per cent to $16.40 an ounce.
Besides, emergence of buying by jewellers and retailers to meet wedding season demand, supported the upside.
In the Delhi capital, gold of 99.9 and 99.5 per cent purity flared up by Rs 210 each to Rs 27,080 and Rs 26,930 per 10g, respectively. It had lost Rs 250 in last two days.
The Sovereign moved up by Rs 100 to Rs 23,700 per piece of eight grams.
In a similar fashion, silver ready rose by Rs 200 to Rs 37,000 a kg and weekly-based delivery by Rs 325 to Rs 36,670 a kg.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%