Gold recovers slightly, silver surges on speculative buying

Gold prices recovered slightly at the domestic bullion market here on mild demand from jewellery stockists and low level of local buying interest, also supported by better international markets.
Silver also rose to reclaim the Rs 35,000 per kg level on good speculative offtake and industrial demand.
Standard gold (99.5 purity) moved up by Rs 30 to close at Rs 26,270 per 10 grams from Thursday's closing level of Rs 26,240.
Pure gold (99.9 purity) also added by a similar margin to end at Rs 26,420 per 10 grams as against Rs 26,390 previously.
Silver (.999 fineness) climbed by Rs 370 a kg to close at Rs 35,085 as compared to Rs 34,715 yesterday.

On the global front, gold edged up in early European trade, but was still on track to post its biggest weekly drop in five years as strong US economic data supported the case for a near-term increase in interest rates.
In London, spot gold dropped to USD 1,126.86 an ounce in early trade, while spot silver declined to USD 14.40 an ounce.