Gold regains sheen, silver rebounds

Gold prices rebounded by Rs 50 to Rs 31,130 per ten grams at the bullion market here today on fresh buying by local jewellers even as the metal weakened overseas.

Silver also staged a recovery, climbing Rs 100 to Rs 39,435 per kg on emergence of buying by industrial units.

Standard gold (99.5 per cent purity) moved up by Rs 50 to end at Rs 31,130 per ten grams from Tuesday's close of Rs 31,080.

Pure gold (99.9 per cent purity) also gained the same amount to settle at Rs 31,280 per 10 grams against Rs 31,230 yesterday.

Silver (.999 fineness) climbed by Rs 100 to conclude at Rs 39,435 per kg as against Rs 39,335 previously.

Globally, gold prices fell as a robust dollar and rising bond yields overwhelmed any geopolitical worries after the United States withdrew from the Iranian nuclear accord.

Spot gold was down 0.5 per cent at USD 1,307.53 an ounce at early trade.

In other precious metals, silver slipped 0.1 per cent to USD 16.41 an ounce.