Gold, silver recover on firm global cues

New Delhi, Jul 15. Snapping a two day falling trend, both gold and silver recovered in the national capital today on fresh buying by stockists amid a firm global trend. While gold recovered by Rs 60 to Rs 27,310 per 10 grams, silver rose by Rs 320 to Rs 41,730 per kg on increased offtake by jewellers and industrial units. Traders said fresh buying by stockists influenced by a firm global trend after Federal Reserve Chairman Ben S Bernanke called for maintaining stimulus, mainly boosted the sentiment. Gold in Singapore, which normally sets the price trend on the domestic front, rose 0.7 per cent to USD 1,295.20 an ounce. On the domestic front, gold of 99.9 and 99.5 per cent purity recovered by Rs 60 each to Rs 27,310 and Rs 27,110 per 10 grams, respectively. It had lost Rs 75 in last two sessions. Sovereigns rose by Rs 50 to Rs 24,200 per piece of eight grams. Silver ready rebounded by Rs 320 to Rs 41,730 per kg and weekly-based delivery by Rs 265 to Rs 41,725 per kg, respectively. The metal had fallen by Rs 340 in last two days. Silver coins climbed by Rs 1,000 to Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.