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Gold jumps on global cues, silver rebounds

Press Trust of India  |  Mumbai 

Gold prices jumped at the market here on sustained offtake from investors and jewellery stockists driven by global cues.

Silver witnessed a rebound on increased industrial buying.

Standard gold (99.5 per cent purity) advanced by Rs 35 to conclude at Rs 29,530 per 10 grams from yesterday's closing level of Rs 29,495.

(99.9 per cent purity) also added a similar margin to end at Rs 29,680 per 10 grams compared to Rs 29,645 previously.

Silver (.999 fineness) surged by Rs 215 to conclude at Rs 37,935 per kg as against Rs 37,720.

Globally, gold climbed nearly 1 per cent, having drifted near USD 1,200 an ounce this week, as the dollar fell versus the yuan while investors focussed on strong corporate earnings rather than China-US trade tensions.

Spot gold was trading up 0.7 per cent at USD 1,214.96 an ounce in early trade.

Silver rose 1.1 per cent to USD 15.43 an ounce.

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

First Published: Tue, August 07 2018. 18:15 IST