Gold rules steady, silver recovers

Gold prices ruled steady in a largely quiet trade at the bullion market here today on mute off-take by jewellers and investors as well as lack of local buying interest.
Silver recovered however by Rs 650 per kg on renewed speculative offtake and industrial demand.
Standard gold (99.5 purity) closed its overnight level at Rs 28,180 per 10 grams.
Pure gold (99.9 purity) also settled at its previous level of Rs 28,330 per 10 grams.
Silver (.999 fineness) climbed by Rs 650 to finish at Rs 41,750 per kg compared to Wednesday's close of Rs 41,100.
On the global front, the metal rose further from this week's 10-month low yesterday, as the dollar eased against the euro ahead of a European Central Bank meeting, and on the view that a US rate rise next week was already reflected in prices.