New Delhi: Riding high on firming global cues and pick up in buying by local jewellers, gold made a smart recovery by rising Rs250 to Rs29,950 per 10 grams at the bullion market on Tuesday. Bullion attributed the recovery in gold prices to a firm trend overseas and increased buying by local jewellers to meet ongoing wedding season demand at domestic spot market. In Delhi, gold of 99.9% and 99.5% purity rebounded by Rs250 each, to Rs29,950 and Rs29,800 per 10 grams, respectively. Also Read| Global gold prices drop as investors await hints on timing of US rate hikesIt had lost Rs180 on Monday. Following gold, silver ready edged up by Rs50 to Rs43,200 per kg and weekly-based delivery by Rs55 to Rs42,725 per kg.

Source: Mint February 21, 2017 09:22 UTC