Gold regained its sheen to trade Rs240 higher at Rs26,950 per ten grams at the bullion market on Monday, tracking a firm global trend amid fresh buying by jewellers. Silver also recovered by Rs300 to Rs36,700 per kg on increased offtake by industrial units and coin makers.
The recovery in gold prices was mostly in tandem with a firming trend in global market as Greece shut banks and imposed capital controls, boosting demand for haven assets amid concern of the country’s likely exit from the euro zone, traders said. Besides, fresh buying by domestic jewellers too influenced gold prices, they said.
Gold in london, which normally determines price trend on the domestic front, rallied 1.1 per cent to $1,188.23 an ounce and silver climbed 1.7 per cent to $16.07 an ounce.
In the national capital, gold of 99.9 and 99.5 per cent purity surged by Rs240 each to Rs26,950 and Rs 26,800 per ten grams respectively.
Sovereign, however, continued to be asked at previous level of Rs23,300 per piece of eight grams in scattered deals.
Silver ready also advanced by Rs300 to Rs 36,700 per kg and weekly-based by Rs415 to Rs36,380 per kg. Silver coins were well maintained at previous level of Rs54,000 for buying and Rs55,000 for selling of 100 pieces.