Gold edges up on stray buying support

Written by Press Trust of India | Mumbai | Updated: Jul 9 2014, 00:24am hrs
GoldStandard gold (99.5 purity) up by Rs 20 to settle at Rs 27,850 per 10 grams from Monday's closing level of Rs 27,830.
Gold prices moved up marginally, snapping a five-session downtrend at the bullion market here on renewed local buying interest amid investment off-take.

Industrial metal, silver, also rebounded sharply following heavy speculative demand.

Standard gold (99.5 purity) up by Rs 20 to settle at Rs 27,850 per 10 grams from Monday's closing level of Rs 27,830.

Pure gold (99.9 purity) added Rs 25 to finish at Rs 28,000 per 10 grams as against Rs 27,975.

Silver (.999 fineness) rose by Rs 220 per kilo to conclude at Rs 45,420 compared with Rs 45,200 yesterday.

Globally, the yellow-metal remained under pressure and traded weak on investors caution amid uncertainty ahead of the Fed minutes outcome on Wednesday.

Spot gold was bid lower at USD 1,318.85 an ounce in early European trade.