New Delhi: Both the precious metals, gold and silver, rebounded on Thursday on fresh buying by stockists and investors on the back on a firming global trend.

Gold, which had lost Rs 210 in the previous session, rose by Rs 185 to Rs 23,445 per 10 grams, while silver shot up by Rs 900 to Rs 58,900 per kg, after it shed Rs 1,500 on Wednesday.

Trading sentiments turned better after the yellow metal gained 0.2 per cent to USD 1,603.95 an ounce on concerns about global economic slowdown due to Eurozone debt crisis and fears that China's manufacturing may contract for the first time in a year, buoying the metal's demand as a safe haven.

In addition, some investors were seen shifting their funds from weakening equity to rising bullion which further fuelled the uptrend.

On the domestic front, gold of 99.9 and 99.5 per cent purity recovered by Rs 185 each to Rs 23,445 and Rs 23,325 per 10 grams, respectively.

Sovereigns followed suit and gained Rs 50 to Rs 18,900 per piece of eight grams.

Silver ready shot up by Rs 900 to Rs 58,900 per kg and weekly-based delivery by Rs 860 to Rs 59,150 per kg on speculative buying.

However, silver coins remained steady at Rs 62,500 for buying and Rs 63,500 for selling of 100 pieces.

Agencies