Gold Recovers on Jewellers' Buying
Gold staged a fag-end recovery to finish higher at Rs 30,700 per 10 grams at the bullion market during the week on the back of brisk buying by local jewelers to meet festive season demand, shrugging off a weak trend overseas.
However, silver ended lower in volatile trade.
Traders attributed the recovery in gold prices to pick-up in buying by local jewelers to meet festive season demand at domestic spot market but a weak trend overseas capped the rise.
Later, it met with some resistance at prevailing levels amid the weak trend overseas and slipped to Rs 30,520 and Rs 30,370 before ending at Rs 30,700 and Rs 30,550 per ten grams respectively, showing a rise of Rs 150 each.
On the other side, sovereign moved in a narrow range in limited deals and settled at the previous level of Rs 24,600 per piece of eight gram.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)