Gold, silver rebound on renewed demand

Gold prices recovered by Rs 105 per 10 grams at the bullion market here today, snapping its two-day falling steak, supported by fresh demand from jewellers and retailers.
Silver also rebounded by Rs 660 per kg on renewed offtake by industrial units.
Standard gold (99.5 purity) rose by Rs 105 to finish at Rs 30,835 per 10 grams from Thursday's closing value of Rs 30,730.
Pure gold (99.9 purity) also moved up by a similar margin to end at Rs 30,985 per 10 grams as compared to Rs 30,880 earlier.
Silver (.999 fineness) shot-up by Rs 660 per kg to conclude at Rs 46,820 as against Rs 46,160 earlier.

Globally, gold prices eased, reflecting tension between an easier global interest rate backdrop and the chance of US monetary policy being tightened before the end of 2016.
Spot gold shed 0.5 per cent to stand at USD 1,324.66 an ounce at early European trade, on course for a decline of around 1 percent for the week.
In other metals, silver, which hit a near two-week low on Thursday, was down 0.6 percent to USD 19.63 an ounce.