Gold glitters on global leads, jewellers' buying

New Delhi: Gold regained its sheen by bouncing Rs 300 to Rs 32,100 per ten grams at the bullion market on Saturday largely due to a firm trend overseas as tensions in the Middle East rose amid fresh buying by local jewellers.

Silver also rebounded by Rs 250 to Rs 40,000 per kg largely on the back of increased offtake by industrial units and coin makers.

Marketmen said, a firming trend overseas as tensions in the Middle East raised demand for the precious metals as a safe haven, pick-up in buying activity by local jewellers to meet retailers' demand at the domestic spot market, mainly led to a rise in gold prices.

Globally, gold rose 0.83 per cent to USD 1,345.40 an ounce and silver went up 1.22 per cent to USD 16.63 an ounce in New York in Saturday's trade.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity surged by Rs 300 each to Rs 32,100 and Rs 31,950 per ten grams, respectively.

The precious metal had lost Rs 350 on Saturday. Sovereign also edged up by Rs 100 to Rs 24,900 per piece of eight grams.

In sync with gold, silver ready too recovered by Rs 250 to Rs 40,000 per kg and weekly-based delivery by Rs 280 to Rs 38,925 per kg.

Silver coins too spurted by Rs 1,000 to Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.