New Delhi: Gold prices recovered by Rs 120 to Rs 11,810 per 10 gram in the bullion market here today on renewed demand amid positive cues in the global market.
Standard gold and ornaments on fresh demand improved by Rs 120 each at Rs 11,810 and Rs 11,660 per 10 grams respectively. Sovereign also gained Rs 25 at Rs 9,475 per piece of eight gram.
In a similar fashion, silver ready attracted brisk buying activity and flared up by Rs 600 to Rs 21,700 per kg and silver weekly-based delivery by Rs 490 at Rs 22,240 per kg. Silver coins also rose by Rs 100 at Rs 26,000 for buying and Rs 26,100 for selling of 100 coins.
Marketmen said buying activity in gold picked up at existing lower levels, pushing the prices up. Retail customers and jewellery fabricators in anticipation of rates going up preferred to buy at the current levels, they said.
The precious metal had plunged by Rs 260 in the bullion market in the previous day's trading.
Marketmen added that demand for the ongoing marriage season also contributed to the gold's northward journey.
Reports of prices going up in the Asian markets also ruled in gold's favour.
The metal in Asia rose by $7.30 to $913.90 an ounce and silver by 0.7 per cent to $17.42 an ounce.
Standard gold and ornaments on fresh demand improved by Rs 120 each at Rs 11,810 and Rs 11,660 per 10 grams respectively. Sovereign also gained Rs 25 at Rs 9,475 per piece of eight gram.
In a similar fashion, silver ready attracted brisk buying activity and flared up by Rs 600 to Rs 21,700 per kg and silver weekly-based delivery by Rs 490 at Rs 22,240 per kg. Silver coins also rose by Rs 100 at Rs 26,000 for buying and Rs 26,100 for selling of 100 coins.
Marketmen said buying activity in gold picked up at existing lower levels, pushing the prices up. Retail customers and jewellery fabricators in anticipation of rates going up preferred to buy at the current levels, they said.
The precious metal had plunged by Rs 260 in the bullion market in the previous day's trading.
Marketmen added that demand for the ongoing marriage season also contributed to the gold's northward journey.
Reports of prices going up in the Asian markets also ruled in gold's favour.
The metal in Asia rose by $7.30 to $913.90 an ounce and silver by 0.7 per cent to $17.42 an ounce.
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