LM:Gold up Rs360,silver by Rs500 on stockists buying, global cues
New Delhi: Both the precious metals, gold and silver, bounced back in the national capital on Thursday on stockists buying in tandem with a firming global trend.
While gold recovered sharply by Rs360 to Rs28,550 per 10 grams, silver gained Rs500 to Rs44,700 per kg.
Traders said stockists buying in line with a firm global trend mainly led an recovery move in both gold and silver prices.
Gold in New York, which normally sets the price trend on the domestic front, rose by $10.20 to $1,388.40 an ounce and silver by 0.48% to $21.79 an ounce.
Besides, investors shifting their funds from weakening equity to rising bullion also supported the uptrend.
On the domestic front, gold of 99.9 and 99.5% rebounded by Rs360 each to Rs28,550 and Rs28,350 per 10 grams, respectively.It had lost Rs325 on Thursday.
Sovereigns followed suit and rose by Rs100 to Rs24,400 per piece of eight grams.
Similarly, silver ready recovered by Rs500 to Rs44,700 per kg and weekly-based delivery by Rs420 to Rs43,910 per kg.
The white metal had lost Rs490 in the previous session.
Silver coins also spurted by Rs1,000 to Rs80,000 for buying and Rs81000 for selling of 100 pieces.
