Gold recovers, silver reclaims Rs 43,000-mark

 Mumbai:-fter two-days of fall, gold prices rebounded at the bullion market today, following pick up in demand from local jewellers at prevailing lower levels.

Silver followed suit and reclaimed Rs 43,000-mark by rising Rs 360 per kg on fresh offtake by industrial units.

Standard gold (99.5 purity) surged by Rs 130 to finish at Rs 29,325 per 10 grams from yesterday’s closing level of Rs 29,195.

Pure gold (99.9 purity) also rose by a similar margin to end at Rs 29,475 per 10 grams as compared to Rs 29,345 earlier.

Silver (.999 fineness) climbed by Rs 360 per kg to finish at Rs 43,260 from Rs 42,900 yesterday.

Globally, gold was steady, but investors were nervous as they looked for new signals on whether US interest rates would rise in March and on US President Donald Trump’s tax plans.

Spot gold had edged up 0.2 per cent to USD 1,237.99 per ounce at early trade.

Among other precious metals, spot silver rose 0.3 per cent to USD 17.99 an ounce.

PTI