Gold prices bounced back, breaking a four-day long losing streak rising by Rs 660 at Rs 12,210 per ten gram on the bullion market on speculative buying amid firming global trend, reports Economic Times.
Standard gold and ornaments which had lost Rs 1,410 each in last four trading sessions, bounced back to close with a gain of Rs 660 each at Rs 12,210 and Rs 12,060 per ten grams respectively. Sovereign rose by Rs 100 at Rs 10,500 per piece of eight gram.
Fresh buying by stockists and retailers at prevailing lower levels to meet ongoing marriage and festival season demand also gave push to the uptrend.
A similar movement was extended to white metal as silver ready notched a handsome gain of Rs 400 to Rs 16,900 per kg while weekly-based delivery by Rs 550 to Rs 16,750 per kg. Silver coins, however, lost Rs 100 at Rs 28,000 for buying and Rs 28,100 for selling of 100 pieces.
