Gold price regains on scattered buying by local jewellers

Mumbai-India (May 22)  Prices of yellow metal recouped by Rs 50 to Rs 29,150 per 10 grams at the bullion market on today’s trade on scattered buying local jewellers even the metal traded weak in the overseas market.

 

 However, silver strengthened by Rs 300 to Rs 39,500 per kg on the back of increased offtake by industrial units and coin makers.

 

 Market observers attributed the price surge in gold is due to the mild buying by local jewellers at domestic spot markets but a weak trend in overseas market capped the rise.

 

 In the national capital, gold of 99.9% and 99.5 % purity ticked up by Rs 50 each to Rs 29,150 and Rs 29,000 per 10 grammes, respectively.

 

 Silver ready advanced by Rs 300 to Rs 39,500 per kg while weekly-based delivery traded higher by Rs 165 to Rs 39,300 per kg.

 

 Silver coins continued to be traded at previous levels of Rs 71,000 for buying and Rs 72,000 for selling of 100 pieces.

Source: HFL