New Delhi: Gold prices recovered by Rs270 to Rs31,370 per ten gram on fresh buying by stockists despite a weak global trend.
However, silver plunged by Rs970 to Rs53,330 per kg on reduced offtake by industrial units and coin makers amid a weak global trend.
Traders said fresh buying by stockists to meet the festive season demand mainly led recovery in gold prices.
Gold in London, which normally set price trend on the domestic front, fell by 0.8% to 1,375.71 dollar an ounce and silver by 1.9% to 23.26 dollar an ounce.
On the domestic front, gold of 99.9 and 99.5% purity recovered by Rs270 each to Rs31,370 and Rs31,170 per ten grams, respectively, after losing Rs625 on Monday.
Sovereign held steady at Rs25,200 per piece of eight gram in limited deals.
On the other hand, silver ready dropped by Rs970 to Rs53,330 per kg and weekly-based delivery by Rs1595 to Rs53,300 per kg.
Silver coins followed suit and plunged by Rs1,000 to Rs87,000 for buying and Rs88,000 for selling of 100 pieces.
