Silver rebounds smartly, gold moves up

Silver prices rebounded at the domestic bullion market today on fresh fresh speculative and stockists buying amidst industrial support, despite mute overseas trend.

Gold gained on small-scale local buying interest at the existing levels.

Silver ready (.999 fineness) jumped by Rs 985 per kg to finish at Rs 56,015 from overnight closing level of Rs 55,030 per kg.

Standard gold (99.5 purity) moved up by Rs 20 per 10 grams to end at Rs 22,355 from Wednesday's closing level of Rs 22,335.

Pure gold (99.9 purity) also added by Rs 25 per 10 grams to conclude at Rs 22,470 as against Rs 22,445 yesterday.

In the overseas market, the precious metals traded almost flat as traders took to sidelines ahead of European Central Bank meeting later amidst concerns Greece debt-crises.

In Europe, spot gold was bid at $1,535.70 an ounce in early trade as against $1,536.80 late in New York yesterday.

Silver was bid at $37.04 an ounce as against to $36.79.