Gold rebounds on fresh buying, silver slips below Rs 40K-mark

Gold prices recovered by Rs 30 per ten grams at the bullion market here today, largely in line with a firming trend overseas amid fresh buying by local jewellers.

However, silver remained under selling pressure and went down further by Rs 385 to Rs 39,820 per kg due to poor offtake by industrial units.

Standard gold (99.5 per cent purity) rose by Rs 30 to end at Rs 30,795 per 10 grams from Monday's level of Rs 30,765.

Pure gold (99.9 per cent purity) also rose by the same amount to finish at Rs 30,945 per 10 grams from Rs 30,915.

However, silver (.999 fineness) went down by Rs 385 per kg to conclude at Rs 39,820 as against Rs 40,205.

Globally, gold prices edged higher after China and the United States threatened to impose fresh tariffs on each other, boosting the precious metal's safe-haven appeal.

Spot gold was up 0.1 per cent at USD 1,279.38 an ounce in early trade.

Meanwhile, in other precious metals, silver was trading 0.2 per cent down at USD 16.36 an ounce.