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Gold gains on global cues, silver reclaims Rs 40K

Press Trust of India  |  Mumbai 

rose by Rs 235 to Rs 31,010 per 10 grams at the market today in tandem with a firming global trend amid increased buying by traders and stockists.

Silver also strengthened by Rs 250 to Rs 40,225 per kg, backed by increased offtake by industrial units and coin makers.

Standard (99.5 per cent purity) rose by Rs 235 to close at Rs 31,010 per 10 grams from Thursday's closing level of Rs 30,775.

Pure (99.9 per cent purity) also moved up by a similar margin to conclude at Rs 31,160 per 10 grams from Rs 30,925.

Silver (.999 fineness) shot-up by Rs 250 to end at Rs 40,225 per kg as against Rs 39,975, yesterday.

Globally, gold strengthened as a rise in risk aversion ahead of talks this weekend lent support, but the remained hemmed within its narrowest weekly range in more than a decade as a recovery in the dollar kept a lid on gains.

Spot gold was up by 0.2 per cent at USD 1,299.04 an ounce at early trade, while the US gold futures for August delivery were flat at USD 1,303.00 an ounce.

Silver was up 0.1 per cent at USD 16.71 an ounce.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, June 08 2018. 18:15 IST