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Gold, silver recover on good buying, global cues

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gold silverMumbai:- Gold prices recovered marginally at the domestic bullion market here today on buying by stockists and investors at lower levels amid higher global cues.

Silver too followed suit and advanced by Rs 565 per kg owing to better industrial demand.

Standard gold (99.5 purity) rose by Rs 60 to settle at Rs 30,800 per 10 grams from Monday’s closing level of Rs 30,740.

Pure gold (99.9 purity) also rose by a similar margin at Rs 30,950 per 10 grams as compared to Rs 30,890 previously.

Silver (.999 fineness) shot-up up by Rs 565 to finish at Rs 46,865 per kg as against Rs 46,300 yesterday.

In worldwide trade, gold rose, as the dollar slipped ahead of a two-day Federal Reserve policy meeting this week, which will be closely watched for clues on the outlook for US interest rates.

Spot gold was up 0.5 per cent at USD 1.321.57 an ounce in early trade, while US gold futures for August delivery were up USD 1.90 an ounce at USD 1,321.40.

Silver was up 0.8 percent at USD 19.68 an ounce.


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