Gold rebounds on festive season demand, upbeat global cues

Gold regained its sheen after a brief overnight fall to close at more than two-week high at the domestic bullion market here today on emergence of buying by jewellery stockists and retailers in view of festival season.
Silver also recouped some lost ground due to renewed industrial demand.
Standard gold (99.5 purity) rose by Rs 200 to finish at Rs 26,695 per 10 grams compared with Tuesday's close of Rs 26,495.
Pure gold (99.9 purity) also climbed by a similar margin to settle at Rs 26,845 per 10 grams from Rs 26,645 earlier.
Silver (.999 fineness) jumped by Rs 320 to end at Rs 37,390 per kg against Rs 37,070 yesterday.

In worldwide trade, the shiny metal shot-up to a 3-1/2 month high on safe-haven bet on concerns over China's economic health and also the low probability of US interest-rate rises this year.
Spot was firmly higher at USD 1,172 an ounce in early European trade and silver was quoted little changed at USD 15.98 an ounce.