Gold, silver rebound on speculative interest, global support

Standard gold rose by Rs 75 to end at Rs 29,235 per 10 grams from overnight closing level of Rs 29,160

Gold prices gained after a three-session fall at the domestic bullion market today on renewed stockist as well as investment buying.

Silver also bounced back smartly on emergence of heavy speculative demand amid strong industrial off-take.

Standard gold (99.5 purity) rose by Rs 75 to end at Rs 29,235 per 10 grams from overnight closing level of Rs 29,160.

Pure gold (99.9 purity) also firmed up by a similar margin to conclude at Rs 29,365 per 10 grams from Rs 29,290.

Silver ready (.999 fineness) spurted by Rs 265 per kg to close at Rs 52,760 as compared to Friday's close of Rs 52,495.

On the global front, gold advanced following a weak dollar amid modest short-covering.

The August contract for gold edged higher by $2.40 to settle at $1,582.80 an ounce on the comex division of the NYMEX late yesterday.

The September contract for silver gained 8 cents to $27.30 an ounce.