Gold glitters, silver recovers

New Delhi: Gold regained its sheen to trade Rs 195 higher at Rs 27,125 per ten gram at the bullion market, taking positive cues from overseas market and fresh buying by jewellers. Other white metal, Silver also recovered by Rs 250 to Rs 37,300 per kg on increased off-take by industrial units and coin makers.

The rebound in gold prices was mostly in tune with a firming trend in global market as dollar fell adding to the appeal of the precious metal after the US Federal Reserve signalled that the pace of policy tightening will be gradual. Gold in Singapore, which normally sets price trend on the domestic front, climbed 0.2 per cent to $1,188.04 an ounce and silver by 0.5 per cent to $16.21 an ounce.

Sovereign, however, continued to be asked at previous level of Rs 23,300 per piece of eight gram in limited deals. On the other hand, silver coins were well maintained at last level of Rs 54,000 for buying and Rs 55,000 for selling of 100 pieces.