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Gold shines on strong demand; silver too recovers

Press Trust of India  |  Mumbai 

continued its strong rally at the domestic market here today, tracking a firm trend overseas and increased buying support from jewellers and consumers to meet rising seasonal demand.

Silver also witnessed recovery on high industrial demand.

Standard (99.5 purity) strengthened by Rs 130 to end at Rs 29,660 per 10 grams from its overnight closing level of Rs 29,530.

Pure (99.9 purity) also added by a similar margin to settle at Rs 29,810 per 10 grams as compared to Rs 29,680.

Silver (.999 fineness) rose by Rs 340 per kg to finish at Rs 38,885 from Rs 38,545 earlier.

Globally, gold jumped to its highest in nearly four months as the dollar tumbled to a six-week low versus the Japanese yen and slid against the euro, lifting assets priced in the US currency and offsetting a rise in global yields.

Spot gold was up 0.9 per cent at USD 1,324.40 an ounce at early trade.

Silver was up 1.2 per cent at USD 17.16 an ounce.

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

First Published: Wed, January 10 2018. 18:25 IST