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Gold prices recoup after positive global leads

LiveMint logoLiveMint 28-02-2017 PTI

New Delhi: Gold received support from a positive global trend and fresh buying by local jewellers as the price recovered by Rs25 to Rs30,150 per 10 grams at the bullion market on Tuesday. However, silver gave up Rs30 at Rs43,850 per kg on lower offtake from industrial units and coin makers.

Traders attributed the rise in gold prices to a firm trend overseas and pick-up in buying by local jewellers driven by the ongoing wedding demand.

Globally, gold prices rose 0.08% to $1,253.10 an ounce in Singapore. In Delhi, gold of 99.9% and 99.5% purity recovered by Rs25 each to Rs30,150 and Rs30,000 per 10 grams, respectively.

It had lost Rs 50 on Monday. Sovereign, however, remained steady at Rs24,500 per piece of eight grams.

On the other hand, silver ready fell by Rs30 to Rs43,850 per kg and weekly-based delivery by Rs125 to Rs43,260 per kg. Silver coins, however, remained flat at Rs74,000 for buying and Rs75,000 for selling of 100 pieces.

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