Gold regains glitter on low-level buying
New Delhi-India (Nov 9) Gold prices jumped by Rs650, its biggest gain since June 20, to close at Rs26,450 per 10 grammes in the national capital on Saturday on emergence of low-level buying.
Silver also recorded a significant recovery of Rs650 to Rs35,550 per kg on increased offtake by industrial units.
Bullion traders attributed the strong recovery in prices of precious metals to revival of buying at prevailing lower levels by jewellers and retailers amidst a rebound in global markets.
Globally, gold in New York, which normally sets price trend on the domestic front, rose 2.4 per cent to $1,169.80 an ounce, the biggest gain since June 19, after US employers added fewer jobs than forecast, reviving demand for a safe-haven.