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Gold rises on firm demand, silver slips

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goldMumbai:- Gold prices rose at the domestic bullion market here today on sustained wave of buying interest from stockists as well as robust festive season.

In contrast, silver fell back after a brief recovery owing to subdued industrial buying.

Standard gold (99.5 purity) climbed by Rs 105 to end at Rs 25,415 per 10 grams from overnight closing level of Rs 25,310.

Pure gold (99.9 purity) also rose by a similar margin to settle at Rs 25,565 per 10 grams from Rs 25,460 earlier.

However, silver (.999 fineness) decline by Rs 115 per kg to conclude at Rs 33,870 per kg as against Rs 33,985.

Globally, gold rose as a wave of risk aversion due to growth worries in China and rising tensions in the Middle East triggered demand for the metal.

Spot gold was up 0.3 percent at USD 1,077.60 an ounce at early trade. Yesterday the metal jumped as much as 2.2 percent to a four-week high of USD 1,083.30.

While, silver rose 0.6 percent to USD 13.95 an ounce, having ended 2015 down 11.7 percent.

PTI

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