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Gold gains more on global cues, silver strengthens

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Press Trust of India Mumbai
Gold prices strengthened further at the domestic bullion market here on sustained demand from stockists jewellers, well supported by a surge in international markets.

While, silver also recovered by rising Rs 385 to Rs 35,425 per kg due to increased offtake by industrial units.

Standard gold (99.5 purity) gained by Rs 115 to end at Rs 26,980 per 10 grams as against yesterday's closing level of Rs 26,865.

Pure gold (99.9 purity) also rallied by a similar margin to conclude at Rs 27,130 per 10 grams as against Rs 27,015 previously.

However, silver (.999 fineness) climbed by Rs 385 to finish at Rs 35,425 compared with Rs 35,040 yesterday.
 

On the global front, gold stabilised just below a three-month high, as the dollar edged lower and European shares tumbled, prompting investors to seek shelter in assets perceived as safer.

Spot gold was up 0.1 percent at USD 1,128.80 an ounce in early trade, within sight of Tuesday's peak of USD 1,130.30, its strongest since Nov. 3.

Among other precious metal, spot silver rose 0.7 percent to USD 14.39 an ounce.

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First Published: Feb 03 2016 | 6:07 PM IST

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