New Delhi: After falling for two days, gold prices rebounded by Rs 190 to Rs 26,250 per ten grams at the bullion market today, tracking a firm trend overseas and emergence of buying by jewellers at prevailing levels.
Traders said firming global trend where gold advanced as equity-market losses and sinking commodity prices spurred demand for safe-haven assets and rising speculation that the Federal Reserve may slow the pace of increases in US interest rates, influenced the precious metal prices.
- Silver followed suit and recovered by Rs 625 to Rs 34,025 per kg on increased offtake by industrial units and coin makers.
- Globally, gold rose 0.2 percent to USD 1,095.39 an ounce in Singapore.
- In the national capital, gold of 99.9 and 99.5 percent purity surged by Rs 190 each to Rs 26,250 and Rs 26,100 per ten grams respectively. It had lost Rs 390 in last two days.
- Following gold, silver ready recovered sharply by Rs 625 to Rs 34,025 per kg and weekly-based delivery by Rs 685 to Rs 34,100 per kg.
- On the other hand, silver coins were unaltered at Rs 48,000 for buying and Rs 49,000 for selling of 100 pieces.
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