Gold, silver rebound on fresh buying, global cues

Gold prices recovered smartly at the domestic bullion market here today on fresh buying by stockists and investors in view of the upcoming festival season amid bullish global cues.
Silver too rebounded by Rs 230 per kg following good industrial offtake.
Standard gold (99.5 purity) climbed by Rs 260 to end at Rs 31,480 per 10 grams from last Friday's closing level of Rs 31,220.
Pure gold (99.9 purity) also moved up by a similar margin to close at Rs 31,630 per 10 grams as compared to Rs 31,370 previously.
Silver (.999 fineness) rose by Rs 230 to finish at Rs 47,270 per kg as against Rs 47,040 last Friday.

Globally, gold rose around 1 per cent as a series of lower-than-expected US economic data weighed on the dollar and reduced prospects for a Federal Reserve interest rate hike this year.
Spot gold rose to a session high in early European trade at USD 1,351.35 an ounce. Spot gold was within reach of a more than two-year high of USD 1,374.91 hit last month as investors sought refuge from volatility across financial markets following Britain's vote to leave the European Union.
Silver was also up at USD 20.08 an ounce.