Gold prices recovered by Rs 50 to Rs 29,250 per 10 gm at the bullion market on scattered buying by jewellers and retailers even as the yellow metal weakened overseas.
Similarly, silver rose further by Rs 450 to Rs 38,650 per kg on increased offtake by industrial units and coin makers.
Traders attributed the recovery in gold prices to some buying by jewellers and retailers to meet upcoming marriage season demand.
They said, however, weakening global trend where gold fell for the third day as equities climbed and extension of the biggest rally in a dollar gauge capped the rise.
Globally, gold fell 1.1 per cent to USD 1,229.20 an ounce, the lowest intra-day level since April 7, in Singapore.
In the national capital, gold of 99.9 and 99.5 per cent purity recovered by Rs 50 each to Rs 29,250 and Rs 29,100 per ten grams, respectively. It had lost Rs 200 yesterday.
On March 1, a day before jewellers began their strike, gold 99.9 purity prices were ruling at Rs 29,400.On the other hand, silver ready advanced by Rs 450 to Rs 38,650 per kg and weekly-based delivery by Rs 490 to Rs 38,560 per kg.
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