Gold, silver recover on low level buying

Gold prices recovered by Rs 15 to Rs 30,050 per ten grams in the national capital today on low level buying by retailers for the marriage season despite weak global trend.

Silver followed suit and rebounded by Rs 100 to Rs 44,800 per kg on increased offtake by jewellery fabricators and industrial units.

In Mumbai, gold of 99.9 and 99.5 per cent purity traded higher by Rs 20 each to Rs 29,935 and Rs 29,785 per ten grams, respectively, while silver lost Rs 50 at Rs 45,400 per kg.

Traders said buying at lower levels by retailers for the marriage season mainly influenced gold and silver prices.

On the domestic front, gold of 99.9 and 99.5 per cent purity recovered by Rs 15 each to Rs 30,050 and Rs 29,850 per ten gram, respectively. It had lost Rs 365 yesterday.

Sovereign held steady at Rs 25,000 per piece of eight gram. In line with a general firm trend, silver ready rose by Rs 100 to Rs 44,800 per kg and weekly-based delivery by Rs 130 to Rs 44,800 per kg, respectively. The white metal had lost Rs 420 in the previous session.

Silver coins, however, remained steady at Rs 85,000 for buying and Rs 86,000 for selling of 100 pieces.