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Gold recovers on fresh demand, global events

Press Trust of India  |  Mumbai 

Gold prices recovered at the domestic bullion market here today on fresh demand from jewellery stockists supported by bullish overseas cues.

However, silver maintained its rising trend and firmed up by Rs 265 per kg on increased offtake by industrial units.

Standard gold (99.5 purity) rose by Rs 180 per 10 grams to settle at Rs 29,575 as against Tuesday's closing level of Rs 29,395 per 10 grams.

Pure gold (99.9 purity) also moved up by a similar margin to end at Rs 29,725 per 10 grams against Rs 29,545 earlier.

Silver (.999 fineness) surged by Rs 265 to finish at Rs 39,725 as compared to Rs 39,460 yesterday.

Globally, gold prices rose for the third day, helped by a weaker dollar and falling US bond yields ahead of data later that could influence how quickly the Federal Reserve will raise

Spot gold was up 0.4 per cent at USD 1,285.62 an ounce at early trade, taking gains this week to 0.7 per cent.

Among other precious metals, silver was up 0.7 per cent at USD 17.13 an ounce.

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

First Published: Wed, November 15 2017. 18:43 IST