Gold gains Rs 95, silver up by Rs 1,100 on global cues

New Delhi, Sept 8: Both gold and silver bounced back in the national capital today (Sep 8) on revival of buying by stockists at existing lower levels amid firm global cues.

While gold gained Rs 95 to Rs 27,915 per 10 grams, silver shot up by Rs 1,100 to Rs 64,100 per kg. Trading sentiment turned better as gold gained in London after a two-day slump attracted physical purchases and spurred investors to buy the metal as an alternate investment option.

Gold in global markets, which normally sets the price trend on the domestic front, gained USD 19.18 to USD 1,836.65 an ounce in London.

On the domestic front, gold of 99.9 and 99.5 per cent purity recovered by Rs 95 each to Rs 27,915 and Rs 27,765 per 10 grams, respectively. The metal had tumbled by Rs 930 yesterday.

Sovereign followed suit and rose by Rs 100 to Rs 22,600 per piece of eight grams.

Silver ready shot up by Rs 1,100 to Rs 64,100 per kg and weekly-based delivery by Rs 1,290 to Rs 64,690 per kg. Silver coins also moved up by Rs 2,000 to Rs 70,000 for buying and Rs 71,000 for selling of 100 pieces.

PTI