Gold up by Rs 100 on scattered buying

Last Updated: Sat, May 25, 2013 09:40 hrs

New Delhi: Snapping a three day losing streak, gold prices recovered by Rs 100 to Rs 27,050 per 10 grams in the national capital on Saturday on scattered buying by retailers at prevailing lower levels.

Silver also advanced by Rs 200 to Rs 44,300 per kg on increased offtake by industrial units.

Marketmen said scattered buying by retailers at attractive lower levels mainly led to recovery in gold prices.

Increased offtake by industrial units kept silver prices higher for the second day, they said.

On the domestic front, gold of 99.9 and 99.5 per cent purity recovered by Rs 100 each to Rs 27,050 and Rs 26,850 per 10 grams, respectively. It had lost Rs 100 in last three sessions. Sovereigns continued to be asked around previous level of Rs 23,700 per piece of eight grams.

In line with a general trend, silver ready advanced by Rs 200 to Rs 44,300 per kg and weekly-based delivery by Rs 150 to Rs 43,475 per kg. The white metal had gained Rs 100 yesterday.

Silver coins remained stable at Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.

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