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This is an archive article published on April 10, 2010

Gold recovers on fresh buying

Gold recovered by Rs 70 to trade at Rs 16,925 per ten grams on the bullion market.

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Gold recovered by Rs 70 to trade at Rs 16,925 per ten grams on the bullion market here today on fresh buying amid a firming global trend.

Standard gold and ornaments recovered by Rs 70 each to Rs 16,925 and Rs 16,775 per ten grams,respectively,while sovereign remained steady at Rs 14,000 per eight-gram piece.

The trading sentiment turned positive as gold prices climbed to a three-month high in the overseas markets,shooting up by USD 10.20 to USD 1,161.40 an ounce last evening.

Seasonal buying by retail customers further fueled the uptrend.

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In line with the positive trend,silver ready rose by Rs 225 to Rs 28,000 per kg and weekly-based delivery by Rs 190 to Rs 27,750 per kg.

Silver coins gained Rs 100 at Rs 33,600 for buying and Rs 33,700 for selling of 100 pieces.

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