Mumbai:- After falling for four days, gold prices recovered by Rs 85 per ten grams at the domestic bullion market here on fresh demand from jewellery stockists amid low level of local buying interest supported by better international market.
Silver also rose by Rs 110 per kg on good speculative offtake and industrial demand.
Standard gold (99.5 purity) moved up by Rs 85 to close at Rs 31,235 per 10 grams from Thursday’s closing level of Rs 31,150.
Pure gold (99.9 purity) also added by a similar margin to end at Rs 31,385 per 10 grams as against Rs 31,300 previously.
Silver (.999 fineness) climbed by Rs 110 a kg to close at Rs 44,885 as compared to Rs 44,775 yesterday.
On the global front, gold edged higher as markets braced for a speech by Federal Reserve chair Janet Yellen later in the session, which is being closely watched for clues on the direction of U.S. interest rates.
In London, spot gold was up 0.4 percent at USD 1,326.90 an ounce in early trade.
Silver was up 1.1 percent at USD 18.68 an ounce after hitting an eight-week low of USD 18.46 on Thursday.
PTI
