Gold recovers by Rs 65 on low level buying, global cues
NEW DELHI: Gold prices recovered by Rs 65 to Rs 30,990 per 10 gm in the bullion market today on emergence of low level buying by retailers amid a firm global trend.
However, silver lacked necessary buying support from industrial units and coin makers and dropped by Rs 600 to Rs 57,000 per kg.
Buying activity in gold picked up as retailers indulged in low level buying for the coming wedding season, traders said.
In Singapore, gold rose by 0.5 per cent to $ 1,664.23 and silver by 0.8 per cent to $ 30.25 an ounce.
On the domestic front, gold of 99.9 and 99.5 per cent purity recovered by Rs 65 each to Rs 30,990 and Rs 30,790 per 10 gm, respectively. The metal had lost Rs 85 in the previous session on Saturday.