4:10 pm
Jack
Snapping two days of losses gold today rose by Rs. 200
to Rs. 26,640 per 10 grams on buying support by stockists at existing
low levels amid a firm trend in the Asian region.
Silver
also shot up by Rs. 800 to Rs. 54,300 per kg on increased offtake by
industrial units and jewellers for the ongoing festive season.
Trading
sentiments turned better after gold climbed in Asia, as investors
sought to protect their wealth against Europe’s sovereign-debt crisis
and a potential slowdown in the global economic recovery.
Gold
in the Asian region rose by 1.6 per cent to $ 1,640.32 an ounce and
silver by 2.2 per cent to $ 31.29 an ounce in Singapore.
In
addition, pick-up in local demand for the ongoing ‘Navratra’,
considered an auspicious period in Hindu mythology for making new
purchases, also supported the uptrend in both gold and silver.
On
the domestic front, gold of 99.9 and 99.5 per cent purity recovered
sharply by Rs. 200 each to Rs. 26,640 and Rs. 26,500 per 10 grams,
respectively. The metal had lost Rs. 575 in last two trading sessions.
However, sovereigns held steady at Rs. 21,700 per piece of eight grams
in limited deals.
In line with a general firm trend,
silver ready jumped up by Rs. 800 to Rs. 54,300 per kg on increased
offtake by industrial units, while silver weekly-based delivery lost Rs.
280 to Rs. 52,160 per kg on lack of speculator’s support.
Meanwhile, silver coins ended flat at Rs. 60,000 for buying and Rs. 61,000 for selling of 100 pieces.
