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Gold recovers on fresh demand, global cues

Press Trust of India  |  Mumbai 

Gold prices recovered by Rs 100 per 10 grams at the domestic bullion market here today on fresh demand from jewellery stockists amid positive global cues.

Silver too attracted increased buying support for the fourth day from industrial units and coin makers.

Standard gold (99.5 purity) moved up by Rs 100 to close at Rs 29,795 per 10 grams from Wednesday's closing level of Rs 29,695.

Pure gold (99.9 purity) also rose by a similar margin to end at Rs 29,945 per 10 grams as against Rs 29,845 previously.

Silver (.999 fineness) climbed by Rs 90 per kg to close at Rs 39,940 as compared to Rs 39,850 yesterday.

Globally, gold rose to its highest level in two weeks on a softer dollar, with US figures due on Friday expected to provide more clues on monetary policy.

Spot gold was up 0.2 per cent at USD 1,294.72 an ounce at early trade, after hitting USD 1,297.40.

Silver rose 0.3 per cent to USD 17.21 an ounce after touching a three-week high.

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

First Published: Thu, October 12 2017. 18:42 IST