Gold recovers on global cues; silver remains weak

New Delhi-India (Mar 9)  Gold prices recovered by Rs 85 to Rs 26,625 per 10 grams at the bullion market on Monday on the back of buying by jewellers and retailers at prevailing levels amid a firm global trend.

Silver, however, remained under selling pressure and lost Rs 100 at Rs 36,200 per kg. Bullion traders said apart from fresh buying by jewellers and retailers at existing levels, a firming global trend where gold rose from a three-month low on speculation of increased demand in China, mainly influenced gold prices. Gold in Singapore, which normally sets price trend on the domestic front, rose 0.4 per cent to $1,172.45 an ounce.

Source: RediffBusiness