Gold gains on moderate buying, silver recoveres

Gold gained further at domestic bullion market today on moderate buying by stockists and traders amid some local buying interest due to ongoing marriage seasons.
Silver recovered smartly on good speculative offtake.
Standard gold (99.5 purity) rose by Rs 55 to close at Rs 30,845 per 10 grams from last Saturday's closing level of Rs 30,790.
Pure gold (99.9 purity) also advanced by Rs 50 to finish at Rs 30,990 per 10 grams from Rs 30,940.
Silver ready (.999 fineness) climbed by Rs 280 to end at Rs 49,780 per kilo from Rs 49,500 last weekend.
'Specific buying due to marriage seasonal offtake combined with weakness in rupee which fell almost to two-month low too supported the gold's gain, dealers said.

At the international market, gold hit three-and-a-half week lows in the backdrop of strong US jobs growth data led the speculation that Federal Reserve would soon start scaling back its monetary stimulus, diminishing bullion's safe haven appeal.
In London, spot gold dipped to USD 1,278.94 an ounce in early trade and spot silver fell to USD 21.35 an ounce.