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Gold, silver rebounds on fresh buying, global cues

Press Trust of India  |  Mumbai 

Gold prices recovered smartly at the domestic bullion market here today on fresh buying by stockists and investors amid bullish global cues.

Silver too rebounded by Rs 765 per kg following good speculative offtake and industrial demand.

Standard gold (99.5 purity) climbed by Rs 145 to end at Rs 29,000 per 10 grams from last Friday's closing level of Rs 28,855.

Pure gold (99.9 purity) also moved up by a similar margin to close at Rs 29,150 per 10 grams as compared to Rs 29,005 previously.

Silver (.999 fineness) rose by Rs 765 to finish at Rs 42,030 per kg as against Rs 41,265 last Friday.

Globally, gold rose over 1 per cent, recovering from 9-1/2 month lows, as the extended losses after touching a near 14-year high last week.

Spot gold had gained 0.92 percent to USD 1,193.80 an ounce in early European trade, after climbing as high as USD 1,197.54 earlier in the session.

Among other precious metals, silver gained nearly 2 percent to USD 16.81 an ounce.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, November 28 2016. 17:58 IST