Gold recovers by Rs 30 on low level buying

Snapping a two-day falling trend, gold prices recovered by Rs 30 to Rs 30,430 per ten grams in the national capital today on low level buying, while silver lost Rs 430 to Rs 44,650 per kg on reduced offtake.

In Mumbai, gold traded higher at Rs 30,330 per 10 grams and silver traded lower at Rs 44,400 per kg.

Traders said some low-level buying by retailers for the marriage season mainly led to the recovery in gold prices, while silver declined on reduced offtake by industrial units and coin-makers at

prevailing higher levels.

On the domestic front, gold of 99.9 and 99.5 per cent purity recovered by Rs 30 each to Rs 30,430 and Rs 30,230 per 10 grams, respectively, after losing Rs 530 in last two trade.

Sovereigns followed suit and gained Rs 50 to Rs 25,200 per piece of eight grams.

On the other hand, silver ready fell by Rs 430 to Rs 44,650 per kg and weekly-based delivery by Rs 580 to Rs 45,000 per kg.

The white metal had surged by Rs 1,080 on Tuesday.

Silver coins dropped by Rs 1,000 to Rs 85,000 for buying and Rs 86,000 for selling of 100 pieces on fall in demand at prevailing higher levels.