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Gold recovers on low-level buying, global cues

Gold prices recovered by Rs. 240 to Rs. 30,400 per ten grams in the national capital today on appearance of purchase at existing low levels amid a firmly global current. Silver also snapped three-day losing streak by increasing Rs. 450 to Rs. 43,950 per kg on enlarged offtake by industrial units and coin makers.

Traders said appear of purchase at existing low levels amid a firm globular inclination, spurred by the Federal Reserve’s resolution to cord information, mainly led to a recovery in precious metals. Gold in New York, which ordinarily sets cost discernment on the domestic front, rose by 0.8 per cent to $1,203.70 an ounce and silver by 1.4 per cent to $19.45 an ounce.

On the domestic front, gold of 99.9 and 99.5 per cent purity recovered by Rs. 240 to Rs. 30,400 and Rs. 30,200 per ten grams, respectively. It had lost Rs. 270 in last two sessions. Sovereign, however, held steady at Rs. 25,150 per piece of eight gram.

In thread with a ordinary firm trend, silver ready rejuvenated by Rs. 450 to Rs. 43,950 per kg and weekly-based conveying by Rs. 200 to Rs. 44,000 per kg. The white metal had lost Rs. 1,580 in the previous trey sessions. Silver coins also jumped up by Rs. 1,000 to Rs. 85,000 for buying and Rs. 86,000 for trading of 100 pieces.

This article comes from eBullion, Inc. US Stock Symbol(EBML) shares of listed companies to reprint, please indicate the source