Gold bounces back on global cues, silver softens

Gold prices recovered by Rs 120 at the bullion market here today on a firm trend overseas amid fresh buying by local jewellers.
Elsewhere, silver ended flat owing to lower demand from consuming industries.
Standard gold (99.5 purity) rose up by Rs 120 to settle at Rs 30,025 per 10 grams as against Thursday's closing level of Rs 29,905.
Pure gold (99.9 purity) also moved up by a similar margin to end at Rs 30,175 per 10 grams as against Rs 30,055 earlier.
Silver (.999 fineness) fell by Rs 5 per kg to finish at Rs 38,885 compared to Rs 38,890 previously.

Globally, gold prices rose, supported by a weaker dollar amid worries about a possible US government shutdown, but the metal was still on track for its first weekly drop in six weeks.
Spot gold was up 0.4 per cent at USD 1,332 an ounce in early trade.
Among other precious metals, silver advanced 0.5 per cent to USD 17.01 per ounce.