Gold recovers on scattered buying; silver remains weak

Last Updated: Wed, Apr 16, 2014 10:29 hrs

Gold prices recovered by Rs 130 to Rs 30,130 per 10 grams in the national capital on Wednesday on scattered buying by stockists for the wedding season demand.

However, silver fell further by Rs 300 to Rs 43,000 per kg on reduced offtake by industrial units and coin makers.

Traders said some buying for the marriage season mainly helped gold prices to recover.

They said reduced offtake by industrial units and coin makers kept pressure on silver prices.

On the domestic front, gold of 99.9 and 99.5 per cent purity recovered by Rs 130 each to Rs 30,130 and Rs 29,930 per ten grams, respectively. It had lost Rs 200 yesterday.

Sovereign remained steady at Rs 25,000 per piece of eight grams.

On the other hand, silver ready remained under selling pressure and surrendered Rs 300 to Rs 43,000 per kg and weekly-based delivery by Rs 790 to Rs 42,030 per kg, after losing Rs 600 in the previous session.

Silver coins also dropped by Rs 1,000 to Rs 81,000 for buying and Rs 82,000 for selling of 100 pieces.

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