Gold gains more on global cues, silver recovers

Mumbai:- Riding on positive global cues and increased buying by jewellers, gold continued its upward journey for the fifth day and increased by another Rs 60 per 10 gram at the domestic bullion market here today.

Silver followed suit, rising by Rs 20 per kg following renewed offtake from industrial units.

Standard gold (99.5 purity) rose by Rs 60 to close at Rs 28,395 per 10 grams from Friday’s level of Rs 28,335.

Pure gold (99.9 purity) also moved down by a similar margin to finish at Rs 28,545 per 10 grams compared to Rs 28,485 earlier.

Silver (.999 fineness) edged-up by Rs 20 per kg to conclude at Rs 40,640 as against Rs 40,620 previously.

Globally, gold firmed as uncertainty ahead of Donald Trump’s inauguration as US President this month supported prices after the previous session’s retreat, though an uptick in the dollar kept a lid on gains.

Spot gold was up 0.3 percent at USD 1,176.15 an ounce in early European trade, while silver was flat at USD 16.48 an ounce.

PTI