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Gold, silver rebound on renewed demand, global firmness

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gold silverMumbai:- Gold prices rebounded modestly by Rs 60 per ten grams at the bullion market here today following renewed buying support from stockists and retailers amid higher global cues.

Silver also recovered owing to fresh demand from consuming industries as well as good speculative offtake.

Standard gold (99.5 purity) rose by Rs 60 to finish at Rs 30,880 per 10 grams from Monday’s level of Rs 30,820.

Pure gold (99.9 purity) also moved down by a similar margin of Rs 60 to Rs 31,030 per 10 grams from Rs 30,970.

Silver (.999 fineness) climbed by Rs 320 to end at Rs 47,030 per kg as compared to Rs 46,710 previously.

Globally, gold edged higher in early trade,as European shares hit a one-week low after data that showed Britain’s vote on European Union membership dented German business confidence.

Spot gold had risen to USD 1,333.30 an ounce in early European trade, while silver fell to USD 19.99 an ounce, down for a fourth straight session.


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