ALSO READAs inflation shoots up, India Inc seeks lower lending rates Fed raises rates as job gains, firming inflation stoke confidence Banks have room to lower lending rates: Patel told MPC Inflation concern led RBI to keep rates unchanged: Bankers Inflation data a challenge, RBI 'grappling' with it: Dy Guv
Gold and silver prices bounced back in the bullion market here today due to fresh demand from stockists on the back of higher global advices.
Standard gold (99.5 purity) rose by Rs 190 to end at Rs 28,050 per 10 grams from last weekend's level of Rs 27,860.
Pure gold (99.9 purity) also rose by a similar margin to finish at Rs 28,200 per 10 grams against Rs 28,010.
Silver (.999 fineness) firmed up by Rs 710 per kg to conclude at Rs 37,200 from Rs 36,490.
Gold prices on Friday marked the highest finish of the month and their first weekly rise since early June, as data on retail sales and inflation stoked concerns that the pace of economic growth may not merit lifting U.S. Interest rates again in 2017.
Gold for August delivery rose by USD 10.20 to settle at USD 1,227.50 an ounce.
Silver for September rose by 24.2 cents to USD 15.933 an ounce.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)