Gold, silver gain on moderate buying, firm global cues

Gold prices recovered modestly at the domestic bullion market today on stockist and investor off-take supported by higher global cues.
Silver also regained some lost ground and shot up on the back of good speculative demand amid industrial buying.
Standard gold of 99.5 per cent purity rose by Rs 55 to end at Rs 29,735 per 10 gm from Thursday's closing level of Rs 29,680.
Pure gold of 99.9 per cent purity also gained by a similar margin to close at Rs 29,875 per 10 gm as against Rs 29,820 previously.
Silver ready (.999 fineness) climbed up by Rs 165 to finish at Rs 55,185 per kg from Rs 55,020 yesterday.

"Stockists are buying gold, though in moderate volume, in view of the upcoming marriage season," traders said.

At the global front, gold closed higher following renewed safe-haven buying by the investors as the deadline for Cyprus bailout plan by European Central Bank (ECB) nears.
In New York, gold for April delivery rose USD 6.30 to USD 1,613.80 an ounce on the Comex division of the NYMEX late yesterday.
Silver for May contract surged by 40 cents to USD 29.21 an ounce.