Gold prices today bounced back in the national capital and gained Rs 185 at Rs 15,785 per 10 gram on emergence of buying by stockists amid reports of a firming global trend.
Marketmen said trading sentiment turned bullish on reports that the precious metal moved up from $984 to $990 an ounce in the global markets.
Investors were seen pulling out money from equity markets to park funds in bullion, considering it to be a safe haven during such financial crisis, they said.
Besides, the US MSCI fell 2.3 per cent to 74.51, the lowest close since August, 2003, also influenced trading sentiments, marketmen said.
Gold in Asia rose to 990.78 dollar an ounce after dropping as much as 0.7 per cent to 984.53.
The Bombay Stock Exchange benchmark Sensex also closed down by over 21 points at 8,822.06 on heavy selling.
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Standard gold and ornaments rose by Rs 185 each at Rs 15,785 and Rs 15,635 per 10 gram, respectively. Sovereign was unchanged at Rs 12,400 per piece of eight gram.
Silver weekly-based delivery was up by Rs 1,190 at Rs 23,530 per kg. Silver ready rose by Rs 120 at Rs 23,100 per kg.
Silver coins rose by Rs 100 at Rs 28,800 for buying and Rs 28,900 for selling of 100 pieces.