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Gold shines on firm global cues

Press Trust of India  |  Mumbai 

prices rebounded by Rs 50 to close at Rs 29,490 per 10 gram at the market here today on fresh buying by local jewellers amid a firm trend overseas.

Silver prices also staged a recovery, climbing Rs 310 to Rs 37,960 per kg on the emergence of buying by industrial units.

Standard (99.5 per cent purity) moved up by Rs 50 to end at Rs 29,490 per 10 gram from Wednesday's close of Rs 29,440.

Pure (99.9 per cent purity) also gained the same amount to settle at Rs 29,640 per 10 gram against Rs 29,590 yesterday.

Silver (.999 fineness) climbed by Rs 310 to conclude at Rs 37,960 per kg as against Rs 37,650, previously.

Globally, gold steadied after two sessions of gains as a stronger dollar index weighed on upside momentum, though took some comfort from a steadier yuan.

Spot gold was up by 0.1 per cent at USD 1,214.51 an ounce in an early trade, having gained 0.2 per cent in the previous session.

Silver rose 0.5 per cent to USD 15.46 an ounce.

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

First Published: Thu, August 09 2018. 18:05 IST