Gold prices recovered by Rs. 40 to Rs. 31,190 per 10 grams
in the national capital on Saturday i.e. on 22nd February 2014 on
fresh buying by stockists, influenced by a firm global trend.
Silver also rose by Rs. 210 to Rs. 47,760 per kg on
increased off take by industrial units and coin makers. Fresh buying by
stockists for the ongoing marriage season amid a firm global trend boosted the
sentiment, said by Indian traders.
A decline in US home sales revived concern that the economy
is weaker than forecast, spurring demand for the metal as a haven asset.
Gold in New York rose 0.5 per cent to $1,323.60 an ounce,
which normally sets price trend on the domestic front, whereas silver increased
0.5 per cent to $21.81 an ounce.
On the domestic front, gold of 99.9 and 99.5 per cent purity
recovered by Rs. 40 each to Rs. 31,190 and Rs. 30,990 per 10 grams,
respectively. It had lost Rs. 100 on Friday.
Sovereign continued to be asked at last level of Rs. 25,400 per
piece of 8 grams.
In line with a general firm trend, silver ready advanced by
Rs. 210 to Rs. 47,760 per kg and weekly-based delivery by Rs. 110 to Rs. 47,460
per kg. The white metal had gained Rs. 50 in the previous session.
However, silver coins held steady at Rs. 88,000 for buying
and Rs. 89,000 for selling of 100 pieces in restricted buying.
