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LM:Gold rebounds to Rs30,100 on wedding season buying
 
New Delhi: Gold regained its glitter to trade Rs150 higher at Rs30,100 per 10 grams in Delhi bullion market on increased buying by stockists and retailers to meet the wedding season demand amid a firm global trend.
Silver maintained its rising streak for the fourth consecutive day and advanced Rs100 to Rs42,400 per kg on sustained buying by industrial units.
Traders said pick-up in buying activity by stockists and retailers, driven by wedding season demand amid a firm global trend, helped gold prices to trade above the Rs30,000 per 10 grams level.
Gold in New York, which normally sets price trend on the domestic front, rose 0.85% to $1,305.70 an ounce and silver by 1.10% to $19.75 an ounce.
On the domestic front, gold of 99.9 and 99.5% purity rebounded by Rs150 each to Rs30,100 and Rs29,900 per 10 grams, respectively. It had lost Rs350 on Wednesday. Sovereign, however, remained steady at Rs25,000 per piece of eight grams.
Silver ready remained firm and gathered another Rs100 to Rs42,400 per kg while weekly-based delivery traded higher by Rs310 to Rs42,200 per kg. The white metal had gained Rs600 in the previous three sessions.
On the other hand, silver coins held steady at Rs79,000 for buying and Rs80,000 for selling of 100 pieces.
Source