To meet seasonal demand, Gold price settles at Rs 27,250, silver also recovers

New Delhi-India (Oct 17)  Gold prices recovered by Rs 100 to settle at Rs 27,250 at the bullion market on Saturday on fresh buying by jewellers to meet seasonal demand even as the yellow metal weakened overseas.

Silver also edged up by 60 to Rs 37,300 per kg on pick up in demand from industrial units and coin makers.

Traders said fresh buying by jewellers to meet the festive and wedding season demand mainly supported the recovery in the precious metals prices but a weak trend overseas capped the rise.

Globally, gold fell 0.48% to $1,177.70 an ounce and silver shed 0.56% to $16.03 an ounce overnight in New York.

Source: dnaIndia