recovers on fresh demand
by Financial Express
New Delhi, May 31: Gold prices
recovered by Rs 215 to close at Rs 12,405 per 10
gram on the bullion market on emergence of
demand from stockists amid reports of firming
Trading gathered momentum as jewellers and
stockists indulged in buying precious metal at
existing lower levels.
Gold prices had fallen by Rs 840 in the last
three straight sessions.
The recovery was also supported by reports
precious metal in the US Markets rebounded last
In the US, gold rose 8.80 dollars to 890.50
dollars an ounce. Silver gained 31 cents to
16.82 dollars an ounce.
A similar impact was noticed in domestic Markets
Standard gold and ornaments shot up by Rs 215
each at Rs 12,405 and Rs 12,205 per 10 gram
respectively. Sovereign held unchanged at Rs
9,975 per piece of eight gram.
Silver ready also shot up by Rs 260 to Rs 23,350
per kg and weekly-based delivery by Rs 300 to Rs
23,350 per kg.
Silver coins rose by Rs 100 to Rs 26,900 for
buying and Rs 27,000 for selling of 100 pieces.
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