Gold prices gain on buying by stockists, jewellers

Gold prices recovered by Rs 85 to Rs 28,710 per ten grams in the national capital today on increased buying by stockists and jewellers for the wedding season amid a firm global trend.
Silver also gained Rs 100 to Rs 44,800 per kg on increased offtake by industrial units and coin makers.
In the overseas markets, which normally sets price trend on the domestic front, gold traded a shade higher by 0.05 per cent to USD 1,319 an ounce and silver by 0.14 per cent to USD 20.93 an ounce in New York in yesterday's trade.
In Delhi, gold of 99.9 and 99.5 per cent purity recovered by Rs 85 each to Rs 28,710 and Rs 28,510 per ten grams, respectively, after losing Rs 160 yesterday.

Sovereign, however, remained steady at Rs 24,900 per piece of eight grams in scattered deals.
In line with a general firm trend, silver ready rose by Rs 100 to Rs 44,800 per kg while weekly-based delivery shed Rs 30 to Rs 44,200 per kg on lack of buying support from speculators.
Silver coins, however, remained flat at Rs 79,000 for buying and Rs 80,000 for selling of 100 pieces in restricted buying at prevailing levels.