Gold surges on global cues, silver recovers

Gold prices rose smartly at the domestic bullion market here today on hectic buying by stockists as well as marriage season demand on the back of firm overseas cues.

Silver recovered on fresh speculative offtake amid industrial support.

Standard gold (99.5 purity) strengthened by Rs 235 per 10 grams to end at Rs 22,165 from Friday's closing level of Rs 21,930.

Pure gold (99.9 purity) also hardened by a similar margin to close at Rs 22,265 as against Rs 22,030 previously.

Silver ready (.999 fineness) firmed up by Rs 145 per kg to settle at Rs 53,810 from its overnight closing level of Rs 53,665.

 

In New York, gold for June delivery gained $16.50 an ounce to $1,508.90 on the Comex Division of NYMEX. Silver for July delivery moved up by 16 cents to $35.09 an ounce.