New Delhi: In an otherwise restricted activity, gold prices recovered by Rs50 to Rs29,450 per 10 grams at the bullion market on Tuesday on scattered buying by jewellers and retailers even as the yellow metal weakened overseas. Traders attributed a mild recovery in gold prices to some buying by jewellers and retailers to meet ongoing wedding season demand but weak trend overseas capped the rise. Globally, gold fell 0.54% to $1,187.30 an ounce and silver by 0.15% to $16.54 an ounce in Singapore. In the national capital, gold of 99.9 and 99.5 % purity rose by Rs50 each to Rs29,450 and Rs29,300 per ten grams, respectively. The bullion market reopened on Monday after 16 days, with gold prices dropping by Rs1,750 per 10 grams.

Source: Mint November 29, 2016 11:21 UTC