On Saturday (29 May 2010), the precious metal prices recovered on the bullion market due to renewed buying by stockists on the bullion market. Gold attracted good support due to sustained buying by retail investors for the on-going wedding season, while silver edged up on industrial demand.
In Mumbai, standard gold recovered by Rs 110 for 10 gm to Rs 18,510 and pure gold also increased by Rs 115 for 10 kg to Rs 18,600. Silver spot firmed up by Rs 35 per kg to Rs 29,840.
In Chennai, bar silver was traded at Rs 29,990 for 1 kg and retail silver at Rs 32.10 per gm. The standard gold was traded at Rs 18,525 for 10 kg, while the retail ornament gold was traded at Rs 1,723 per gm.
