After Friday’s slide, gold regained its form to trade higher by Rs0 at Rs31,600 per 10 grams on Saturday, taking positive cues from the global market amid buying by jewellers in the domestic spot market. However, silver fell by Rs300 to Rs46,500 per kg on reduced off-take by industrial units and coin makers.
Bullion traders said a firm trend overseas after the US Fed kept interest rates unchanged boosted demand for the precious metal. That apart, fresh purchases by jewellers at the domestic spot market led to the recovery in gold prices. Globally, gold rose 0.03 per cent to $1,337.10 an ounce in New York in Friday’s trade.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity rebounded by Rs80 each to Rs31,600 and Rs31,450 per 10 grams, respectively. The metal had shed Rs30 Friday. Sovereign, however, was unchanged at Rs24,500 per piece of eight grams in limited deals.