Gold price recovers to Rs. 30,525; silver jumps by Rs. 150/kg

Mumbai-India (Nov 13)  Gold prices recovered by Rs. 75 to Rs. 30,525 per 10 grams at the bullion market today due to firm global trend and fresh buying by local jewellers.

Silver also rebounded by Rs. 150 to Rs. 40,550 per kg on increased offtake by industrial units and coin makers.

Traders said, besides a firm trend overseas, pick-up in buying by local jewellers to meet the wedding season demand at the domestic spot market, mainly led to the rise in gold prices.

Globally, gold rose 0.08 per cent to $1,275.90 an ounce and silver by 0.12 per cent to $16.88 an ounce in Singapore.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity went up by Rs. 75 each to Rs. 30,525 and Rs. 30,375 per 10 grams, respectively. It had lost Rs. 80 on Saturday.

Sovereign, however, remained unaltered at Rs. 24,700 per piece of eight grams.

Following gold, silver ready traded higher by Rs. 150 to Rs. 40,550 per kg and weekly-based delivery by Rs. 130 to Rs. 39,630 per kg. Silver coins, however, held steady at Rs. 74,000 for buying and Rs. 75,000 for selling of 100 pieces.

BusinessLine