Gold, silver get some lustre back on jewellers' buying

Gold prices edged up Rs 20 to Rs 27,130 per 10 grams in the bullion market on Friday on scattered buying by jewellers and retailers amid a better global trend.

Silver also recovered Rs 100 to Rs 37,100 per kg on increased offtake by industrial units and coin makers.

Traders said an upward trend in global markets mainly led to recovery in the precious metals' prices.

Globally, in Singapore, gold traded a tad higher at USD 1,182.22 an ounce, from $1,182.01 on Thursday.

In the national capital, gold per 10 grams of 99.9 per cent and 99.5 per cent purity were up Rs 20 each to Rs 27,130 and Rs 26,980, respectively.

It had shed Rs 40 yesterday. Sovereign, however, remained flat at Rs 23,400 per piece of eight grams.

Silver ready too pulled back Rs 100 to Rs 37,100 per kg and weekly-based delivery Rs 160 to Rs 36,785 per kg.

Silver coins of 100 pieces continued to be traded at the last level of Rs 54,000 and Rs 55,000 for buying and selling, respectively, in restricted activity.