Gold rebounds on fresh buying, silver eases

Gold prices recovered by Rs 30 per 10 grams at the bullion market here today, on fresh buying by local jewellers to meet ongoing wedding season demand.

However, silver eases further for the fifth day on mild speculative selling and lower industrial buying.

Standard gold (99.5 purity) rose by Rs 30 to end at Rs 29,095 per 10 grams from Monday's level of Rs 29,065.

Pure gold (99.9 purity) also rose by the same amount to finish at Rs 29,245 per 10 grams from Rs 29,215.

However, silver (.999 fineness) edged down by Rs 20 per kg to conclude at Rs 37,710 as against Rs 37,730.
 

Globally, Gold steadied above USD 1,275 an ounce as the dollar stabilised versus a currency basket, with the metal still hemmed within this quarters narrow price range ahead of fresh signals on US tax reform.

Spot gold was at USD 1,275.81 an ounce at early trade, little changed from USD 1,275.91 late on Monday.

Among other precious metals, silver was down 0.1 per cent at USD 16.30 an ounce.