You are using an older browser version. Please use a supported version for the best MSN experience.

Gold recovers as wedding season demand picks up

LiveMint logoLiveMint 13-05-2014 PTI

New Delhi: After two days of losses, gold prices on Tuesday moved up by Rs60 to Rs30,300 per ten grams in Delhi bullion market on emergence of demand from retailers for ongoing wedding even as the metal weakened overseas.

Silver maintained its rising trend and advanced by Rs350 to Rs42,250 per kg on increased offtake by coin makers.

Traders attributed the rise in the precious metal prices to emergence of buying at prevailing levels by stockists and retailers to meet the ongoing marriage season demand. They said, however, a weak global trend where gold fell to over one week low as investors weighed the dollar’s strength against escalating tension in Ukraine restricted the rise.

Gold in Singapore, which normally sets price trend on the domestic front, eased by 0.4% to $1,290.44 an ounce and silver by 0.6% to $19.42 an ounce.

On the domestic front, gold of 99.9 and 99.5% purity traded by Rs60 each higher at Rs30,300 and Rs30,100 per ten gram, respectively. It had lost Rs240 in last two days. Sovereign, held steady at Rs25,100 per piece of eight gram.

Silver ready rose further by Rs350 to Rs42,250 per kg and weekly-based delivery by Rs280 to Rs41,880 per kg. The white metal had gained Rs200 on Monday.

Silver coins spurted by Rs1,000 to Rs79,000 for buying and Rs80,000 for selling of 100 pieces.

More From LiveMint

image beaconimage beaconimage beacon