Gold sparkles again on jewellers' buying

Gold prices strengthened itself by Rs. 40 to Rs. 31,290 per 10 grams at the Billion market on Saturday. However, the price of silver went south as it dipped by Rs.50 to Rs. 39,000 per kilogram.

Traders credited recovery of gold prices to some purchases by local jewelers at the domestic market.

In Friday’s trade at New York, gold fell by O.16 per cent to $1,313.60 an ounce and silver by 0.21 per cent to $16.33 an ounce. The precious metal had lost Rs. 265 in the previous two sessions.

Silver fell further by Rs. 150 to Rs. 39,100 per kg and weekly-based delivery by Rs. 190. However, Silver coins were steady at Rs. 73,000 for purchasing and Rs. 74,000 per 100 pieces for selling.

Silver coins, however, held steady at Rs 73,000 for buying and Rs 74,000 for selling of 100 pieces.