Gold glitters on jewellers buying; silver declines

Snapping its four-day falling streak, gold recovered by Rs 75 per 10 grams at the bullion market here today, taking positive cues from global market along with increased buying by jewellers.
While, silver turned weak and dropped by Rs 50 per kg on reduced offtake by industrial units.
Standard gold (99.5 purity) climbed by Rs 75 to end at Rs 28,055 per 10 grams from Thursday's level of Rs 27,980.
Pure gold (99.9 purity) also rose by a similar margin to close at Rs 28,205 per 10 grams compared to Rs 28,130.
However, silver (.999 fineness) dropped by Rs 50 per kg to conclude at Rs 38,485 against Rs 38,535 previously.

Globally, gold rose and was set to end the week slightly higher as the sudden sacking of the FBI head in the United States stoked investor concerns and boosted demand for bullion, even as the dollar headed for its strongest week this year.

Spot gold was up 0.4 per cent at USD 1,228.61 per ounce at early trade. Gold rose 0.5 per cent in the previous session, its best one-day gain in a month.
US gold futures added 0.4 per cent to USD 1,229.26 an ounce.
Among other precious metals, silver rose 0.9 per cent to USD 16.39, set for its first weekly rise in four.