Gold, silver up on stockists buying, firm global cues

New Delhi, Mar 22. Both the precious metals, gold and silver, recovered here today on fresh buying by stockists supported by a firm global trend. While gold recovered by Rs 80 to Rs 30,330 per 10 grams, silver rebounded by Rs 430 to Rs 55,180 per kg on increased offtake by jewellers and industrial units. Traders said fresh buying by stockists supported by a firm global trend mainly led to the recovery in both the precious metals. Gold in New York, which normally sets the price trend on the domestic front, rose by USD 8.10 to USD 1,614.80 an ounce and silver by 1.25 per cent to USD 29.18 an ounce. On the domestic front, gold of 99.9 and 99.5 per cent purity recovered by Rs 80 each to Rs 30,330 and Rs 30,130 per 10 grams, respectively. It had lost Rs 120 yesterday. However, sovereigns held steady at Rs 25,300 per piece of eight grams in limited deals. In line with a general firm trend, silver ready rebounded by Rs 430 to Rs 55,180 per kg and weekly-based delivery by Rs 54,835 per kg. The white metal had declined by Rs 250 in the previous session. Silver coins continued to be asked around previous level of Rs 82,000 for buying and Rs 83,000 for selling of 100 pieces.