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| Gold bounces back after four-day losing streak |
| Press Trust of India / Mumbai Mar 26, 2009, 19:41 IST |
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Gold prices recovered by Rs 120 per ten grams after four-day lossing streak on the bullion market here today on renewed enquiries from stockists in view of seasonal buying coupled with higher New York advices.
Silver also firmed up following good industrial demand.
Ongoing marriage season mainly boosted the prices of gold, a dealer said.
Gold futures rose in New York after four session, boosted by a weaker dollar and rising demand from gold Exchange-traded funds.
Gold for April delivery ended up by $12 an ounce to $935.80 on the comex division of the New York Mercantile Exchange. Silver for May delivery also rose to $13.437 an ounce.
Moving to the domestic market, standard gold (99.5 purity) recovered by Rs 120 per ten grams to Rs 15,175 from its last close of Rs Rs 15,055.
Pure gold (99.9 purity) also firmed up by a similar margin to Rs 15,245 from Rs 15,125 previously.
Silver ready (.999 fineness) rose by Rs 185 per kilo to Rs 22,510 from Rs 22,325.
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