Gold prices recovered smartly by Rs 90 per 10 grams on the bullion market here today, on emergence of fresh buying by stockists and jewellers sparked by a surge in overseas markets. Silver also moved up further on sustained industrial support.
Standard gold (99.5 purity) recouped by Rs 90 per ten grams to close at Rs 16,380 from Friday's closing level of Rs 16,290.
Pure gold (99.9 purity) also firmed up Rs 95 per 10 grams to conclude at Rs 16,465 as against Rs 16,370 yesterday.
Silver ready (.999 fineness) advanced further by Rs 35 per kilo to end at Rs 26,905 from Rs 26,870 previously.
In New York, gold futures ended higher yesterday as the dollar weakened against basket currencies.
Gold for June delivery rose by $11.30 or 1 per cent to end at $1,105.40 an ounce.
Silver for May delivery up nearly by 17 cents to $16.91 an ounce.
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