Gold, silver recover on global cues, festive buying

After two days of losses, gold prices recovered by Rs 25 to Rs 28,750 per 10 grams in the national capital today on the back of buying by jewellers for the festive season amidst a firming global trend.
Silver also rebounded by Rs 275 to Rs 44,275 per kg on increased offtake by industrial units and coin makers.
Traders attributed the recovery in gold prices to fresh buying by jewellers to meet festive season demand and a firming global trend as investors weighed tension over Ukraine.
Globally, gold in London, which normally determines prices here, added 0.1 per cent to USD 1,310.35 an ounce and silver rose 0.4 per cent to USD 20.09 an ounce.

In Delhi, gold of 99.9 and 99.5 per cent purity recovered by Rs 25 each to Rs 28,750 and Rs 28,550 per 10 grams, respectively. It had lost Rs 375 in last two days. Sovereign, however, remained steady at Rs 24,800 per piece of eight grams in restricted deals.
In a similar fashion, silver ready rose by Rs 275 to Rs 44,275 per kg and weekly-based delivery by Rs 345 to Rs 43,775 per kg. The white metal had lost Rs 700 in the previous two sessions.
Silver coins continued to be enquired at last level of Rs 77,000 for buying and Rs 78,000 for selling of 100 pieces.