Gold regains 21,000 mark; silver slips from record level

Gold regained its crucial Rs21,000 per ten grams level in the bullion market today, on emergence of buying by retail customers for the current marriage season, while silver fell from the record level.

Gold gained by Rs20 to trade at Rs21,000 per ten grams, a level last seen on December 6 while silver tumbled by Rs90 to Rs46,840 per kg after climbing to a record level of Rs46,930 yesterday.

Trading sentiment in silver dampened, as stockists booked profits at existing higher levels in overseas and futures markets.

On the domestic front, silver ready met with resistance for the first time in three days and lost Rs90 to Rs46,840 per kg and weekly-based delivery by Rs80 to Rs46,370 per kg.

However, silver coins surged by Rs500 to an all-time high of Rs51,000 for buying and Rs51,100 for selling of 100 pieces, spurred by hectic demand for the marriage season.

The coins are normally used for gifting purpose in marriage celebrations.

On the other hand, the gold of 99.9 and 99.5% purity became more expensive by Rs20 each at Rs21,000 and Rs20,880 per ten grams, respectively.

Sovereign followed suit and rose by Rs50 to the record level of Rs16,950 per piece of eight grams.