Gold recovers marginally on jewellers' buying, silver remains weak 

Traders said mild buying by local jewellers at domestic spot market helped the recovery in gold prices but a weak trend overseas capped the gains.

Published: 15th September 2018 06:27 PM  |   Last Updated: 15th September 2018 06:27 PM   |  A+A-

Gold bars

Image used for representational purpose only. (File photo | Reuters)

By PTI

NEW DELHI: Gold prices recovered by Rs 20 to reach Rs 31,420 per 10 grams at the bullion market Saturday, halting its two-day losing streak on scattered buying by local jewellers even as the metal weakened overseas.

However, silver remained under selling pressure and lost another Rs 150 to trade at Rs 37,500 per kg.

Traders said mild buying by local jewellers at domestic spot market helped the recovery in gold prices but a weak trend overseas capped the gains.

Globally, gold fell 0.65 per cent to USD 1,193.10 an ounce and silver shed 0.78 per cent to USD 14.03 an ounce in New York in Friday's trade.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity rebounded by Rs 20 each to Rs 31,420 and Rs 31,270 per 10 grams, respectively.

It had lost Rs 225 in the last two days.

Sovereign, however, remained unaltered at Rs 24,500 per piece of eight grams.

On the other hand, silver ready fell further by Rs 150 to Rs 37,500 per kg and weekly-based delivery declined by Rs 215 to Rs 36,995 per kg.

Silver coins, however, continued to be asked at previous level of Rs 72,000 for buying and Rs 73,000 for selling of 100 pieces.

Stay up to date on all the latest Business news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

facebook twitter whatsapp