Silver recovers modestly, gold eases

Silver prices gained modestly at the bullion market here today on fresh industrial offtake despite bearish European cues.

Meanwhile, gold eased further in a lacklustre trade on the back of poor jewellery and local buying support.

Silver ready (.999 fineness) firmed up by Rs 60 per kg to finish at Rs 54,625 from overnight closing of Rs 54,565.

However, standard gold (99.5 purity) moved down by Rs 10 per 10 grams to conclude at Rs 22,495 as compared to Rs 22,505 yesterday.

Pure gold (99.9 purity) also softened by Rs 5 per 10 grams to settle at Rs 22,600 as against Rs 22,605 previously.

In Europe, the precious metals declined following strengthening dollar after the Federal Reserve's report indicating slowdown in US growth.

Spot gold was bid down at $1,543.29 an ounce in early trade and Silver also bid lower at $36.15 an ounce.