Gold snaps three-day falling trend, up Rs 25 on global cues

Last Updated: Mon, Feb 18, 2013 10:54 hrs

Snapping a three-day falling trend, gold prices recovered by Rs 25 to Rs 30,415 per ten grams in the national capital today, on revival of buying at existing lower levels, amid a firming global trend.

Silver also rebounded by Rs 320 to Rs 56,850 per kg on fresh buying by vanaspati units and coin makers.

Traders said low level buying by stockists and retailers after recent steep fall in bullion prices amid a firm global trend mainly led to a recovery move.

In Singapore, gold rose by 0.6 per cent to USD 1,618.90 an ounce and silver by 0.9 per cent to USD 30.06 an ounce.

On the domestic front, gold of 99.9 and 99.5 per cent purity recovered by Rs 25 each to Rs 30,415 and Rs 30,215 per ten grams, respectively.

It had lost Rs 410 in last three sessions. Sovereign climbed by Rs 100 to Rs 25,300 per piece of eight gram.

Similarly, silver ready rebounded by Rs 320 to Rs 56,850 per kg and weekly-based delivery by Rs 340 to Rs 56,400 per kg, respectively. It had lost Rs 570 in the previous session on Saturday.

Silver coins also spurted by Rs 1,000 to Rs 79,000 for buying and Rs 80,000 for selling of 100 pieces on upsurge in marriage season demand.

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