Gold recovers on mild demand, silver surges

Gold prices recovered marginally to Rs 29,395 per 10 grams at the bullion market here today due to mild demand from stockist and retailers amid bullish global cues.
Silver firmed up further by Rs 215 per kg to Rs 39,140 per kg owing to persistent offtake by industrial units.
Standard gold (99.5 purity) edged-up by Rs 10 per 10 grams to settle at Rs 29,245 as against Tuesday's closing level of Rs 29,235.
Pure gold (99.9 purity) also moved up by a similar margin to end at Rs 29,395 per 10 grams against Rs 29,385 earlier.
Silver (.999 fineness) surged by Rs 215 to finish at Rs 39,140 as compared to Rs 38,925 yesterday.

Globally, gold climbed briefly back above USD 1,280 an ounce as caution ahead of this week's confirmation of the new Federal Reserve chair and a policy statement from the bank prompted some to close out bets on falling prices.
Spot gold was up at USD 1,278.11 an ounce at early European trade, having earlier peaked at USD 1,280.87.
Elsewhere, silver was up at USD 16.94 an ounce.