Precious metals recover on local buying,firm global trend

Both the precious metals -- silver and gold prices recovered in the national capital

Snapping a three-day long losing streak,both the precious metals — silver and gold prices recovered in the national capital today on emergence of buying by stockists and jewellers amid a firming global trend.

The gold gained Rs 180 to Rs 28,620 per 10 gm,after losing Rs 370 in the last three days,and silver by Rs 350 to Rs 52,550 per kg on fresh buying amid reports the metals in overseas markets rebounded from the lowest level in nearly five month.

The gold in overseas markets,which set a price trend on the domestic front here,gained 0.9 per cent to USD 1,553.93 an ounce. The metal fell to USD 1,526.97 yesterday,the lowest price since December 29. The silver had lost Rs 1,450 in two sessions.

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In the national capital,the gold of 99.9 and 99.5 per cent purity rose by Rs 180 each to Rs 28,620 and Rs 28,480 per 10 gm,respectively. Sovereign also rose by Rs 50 to Rs 23,650 per piece of eight gram.

Silver ready shot up by Rs 250 to Rs 52,550 per kg and weekly-based delivery by Rs 350 to Rs 52,550 per kg. Silver coins recovered by Rs 1,000 to Rs 59,000 for buying and Rs 60,000 per 100 pieces.

Mallojula Venugopal Rao alias Sonu and Thippiri Tirupathi alias Devuji

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