Gold recovers on renewed demand, silver rules stable

Gold prices recovered smartly at the domestic bullion market here today following good buying by stockists and investors following ensuing festive demand amidst higher global cues.
Silver, however, held steady in the absence of any large scale buying activity.
Standard gold (99.5 purity) rose by Rs 115 to end at Rs 31,510 per 10 grams from Wednesday's level of Rs 31,395.
Pure gold (99.9 purity) also moved up by a similar margin to close at Rs 31,660 per 10 grams as against to Rs 31,545 previously.
Silver (.999 fineness) closed unchanged at yesterday's level of Rs 46,750 per kg.
Globally, Gold rose in early trade, buoyed by a weaker dollar after minutes from the US Federal Reserve's July meeting showed policymakers were divided over whether to raise interest rates soon.

Spot gold was up at USD 1,350.47 an ounce in early European trade and silver was also up to USD 19.76 an ounce.