Gold prices on Wednesday snapped a seven-day long losing streak, rising by Rs 60 to Rs 31,160 per 10 grams in New Delhi, on emergence of low level buying for the wedding season amid a firm global trend. Some investors seen shifting their funds from weak equity market to rising bullion also influenced the sentiment, brokers said. Gold of 99.9 and 99.5 per cent purity rebounded by Rs 60 each to Rs 31,160 and Rs 30,960 per ten grams, respectively. It had lost Rs 1,470 in the previous seven sessions. Sovereign remained steady at Rs 25,200 per piece of eight grams. In line with a general firm trend, silver ready recovered by Rs 360 to Rs 48,860 per kg and weekly-based delivery by Rs 260 to Rs 48,260 per kg. The white metal had lost Rs 500 on Tuesday. However, silver coins maintained a steady trend at Rs 86,000 for buying and Rs 87,000 for selling of 100 pieces. Gold in London, which normally sets price trend on the domestic front, rose by $7 to $1,318.90 an ounce and silver by 1.11 per cent to $21.95 dollar an ounce.

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