Gold, silver prices recover on renewed demand

Mumbai-India (Apr 5)  Snapping its three-day falling trend, gold prices regained smartly at the bullion market here on Saturday on fresh buying from jewellery stockists and traders amid ensuing seasonal demand. Silver also recovered and closed above Rs.38,100-level following heavy speculative offtake.

Standard gold (99.5 purity) jumped by Rs.410 to close at Rs.26,630 per 10 grams from Wednesday’s closing level of Rs.26,220. Pure gold (99.9 purity) also rose by a similar margin to settle at Rs.26,780 per 10 grams from Rs.26,370. Silver (.999 fineness) climbed by Rs.440 to finish at Rs.38,100 per kg as compared with Rs.37,660 previously.

In New Delhi, gold prices rose for the third straight day to regain the Rs.27,000 per 10 grams level on the back of strong demand. In the national capital, prices of 99.9 and 99.5 per cent pure gold increased by Rs.60 each to Rs.27,010 and Rs.26,860 per 10 grams, respectively.

In overseas market, comex trading remained closed yesterday on account of ‘Good Friday’.

Source: LiveMint