Gold, silver recover on festival demand

New Delhi-INDIA (Oct 6)  The prices of gold and silver recovered in the national capital on Saturday on emergence of festival and marriage season demand.

Gold prices recovered by Rs40 to Rs30,350 per ten gram, while silver gained Rs230 to Rs48,450 per kg on increased offtake.

Traders said sentiment turned slightly better after retailers indulged in buying for “Navratra,” considered to be an auspicious week in Hindu mythology for making new purchases mainly helped precious metals prices to recover.

On the domestic front, gold of 99.9 and 99.5% purity rebounded by Rs40 each to Rs30,350 and Rs30,150 per ten gram, respectively. It had lost Rs290 on Friday. Sovereign, however, remained steady at Rs25,000 per piece of eight gram.

In line with a general firm trend, silver ready recovered by Rs230 to Rs48,450 per kg while weekly-based delivery lost Rs245 to Rs48,195 per kg. The white metal had lost Rs1,460 in the previous four sessions.

On the other hand, silver coins held steady at Rs85,000 for buying and Rs86,000 for selling of 100 pieces.