Gold that was on the losing side for last few sessions of three days in the bullion market has finally gained some momentum. The prices of gold have now recovered by a decent Rs. 40 to be at Rs. 20,730 per 10 grams.

The global prices have showed strong support and also some fresh buying at these lower levels has supported the prices of gold, and helped in recovery.

Some industrial units also showed buying support in silver which is now steady at Rs. 44,800. Gold in international market also had a decent positive run in the market to close at $1375 an ounce, up by $6. This set up a base for a strong run of the most precious metal, in the domestic markets as well.

The gold of 99% and 99.5 percent purity was trading at Rs 20,730 and Rs 20,610 per 10 grams, respectively as opposed to sovereign gold which was flat at Rs 16,750 per piece of eight gram.