Gold regains sheen, silver strengthens

Gold rebounded by Rs 125 per 10 grams to Rs 29,980 at the bullion market here today following renewed demand from stockists and retailers even as the metal weakened overseas.
Silver also strengthened by Rs 250 per kg to Rs 37,920 on increased offtake from industrial units.
Standard gold (99.5 per cent purity) rose by Rs 125 to close at Rs 29,980 per 10 grams from Thursday's closing level of Rs 29,855.
Pure gold (99.9 per cent purity) also moved up by the same amount to finish at Rs 30,130 per 10 grams compared to Rs 30,005 previously.
Silver (.999 fineness) jumped by Rs 250 to conclude at Rs 37,920 per kg as against Rs 37,670 earlier.

Globally, Gold slipped as tumbling equity markets, a firmer dollar and worries about rising global interest rates weighed, though the metal remained underpinned by its appeal as a safe haven asset in times of market turmoil.
Spot gold fell 0.3 per cent to USD 1,314.70 an ounce at early trade.
Silver fell 0.4 per cent to USD 16.36 an ounce.