Gold price jumped by Rs 300 to Rs 31,600 per ten grams

Gold jumped Rs 300 to Rs 31,600 per ten grams in the national capital on Friday on wedding season buying at existing lower levels.

Traders said wedding season buying at existing lower levels led the recovery in gold and silver prices.

On the domestic front, gold of 99.9 and 99.5 per cent purity rebounded by Rs 300 each to Rs 31,600 and Rs 31,400 per ten grams, respectively. It had lost Rs 520 on Thursday.

Sovereigns followed suit and rose by Rs 100 to Rs 25,300 per piece of eight gram.

Similarly, silver ready recovered by Rs 270 to Rs 45,870 per kg and weekly-based delivery by Rs 420 to Rs 45,120 per kg. The white metal had lost Rs 850 in last trade.

However, silver coins held steady at Rs 84,000 for buying and Rs 85,000 for selling of 100 pieces.