Gold steady at Rs 27,000 on scattered buying; silver recovers

Gold prices on Wednesday held steady at Rs 27,000 per ten gram at the bullion market in the national capital on scattered buying by retailers. However, silver recovered by Rs 150 to Rs 36,500 per kg on increased offtake by industrial units and coin makers.

Traders said scattered buying by retailers and jewellers mainly kept gold prices steady even as gold edged higher in global markets. Globally, gold was trading 0.25 per cent higher at USD 1,179.80 an ounce in Singapore.

In Delhi, gold of 99.9 and 99.5 per cent purity ruled steady at Rs 27,000 and Rs 26,800 per ten gram respectively. Sovereign followed suit and traded at last level of Rs 23,700 per piece of eight gram.

On the other hand, silver ready recovered by Rs 150 to Rs 36,500 per kg and weekly-based delivery by a similar margin to Rs 36,470 per kg. Meanwhile, silver coins continued to be asked at last level of Rs 59,000 for buying and Rs 60,000 for selling of 100 pieces.