Gold recovers on retail buying; silver falls

New Delhi, Oct 19. Gold recovered by Rs 150 to Rs 31,650 per ten grams at the national capital today, mainly due to seasonal demand and retail buying. On the other hand, Silver fell by Rs 300 to Rs 48,500 per kg on reduced offtake at higher levels. Traders said retail buying for the festive and marriage season helped gold to recover while reduced offtake by industrial units at prevailing higher levels kept silver lower. In the national capital, gold of 99.9 and 99.5 per cent purity recovered by Rs 150 each to Rs 31,650 and Rs 31,450 per ten grams, respectively. It had lost Rs 120 yesterday. Sovereign held steady at Rs 25,200 per piece of eight gram in restricted buying activity. On the other hand, silver ready fell by Rs 300 to Rs 48,500 per kg and weekly-based delivery by the same margin to Rs 48,200 per kg. The white metal had gained Rs 1,750 in last three sessions. However, silver coins spurted by Rs 1,000 to Rs 86,000 for buying and Rs 87,000 for selling of 100 pieces on fresh buying. The coins are normally used in pooja on 'Diwali' and gifting purpose during marriages.