Gold price edges up on stray buying, silver rebounds

Written by PTI | Mumbai | Updated: May 31 2014, 00:54am hrs
Gold prices gained marginally at the domestic bullion market here today due to mild retail buying support.

Silver rebounded sharply after fourth straight session slump on the back of renewed industrial demand.

Standard gold (99.5 purity) looked up by Rs 5 to settle at Rs 26,980 per 10 grams from Thursday's closing level of Rs 26,975.

Pure gold (99.9 purity) also added by a similar margin to finish at Rs 27,130 per 10 grams from Rs 27,125.

Silver (.999 fineness) surged by Rs 545 to end at Rs 41,065 per kg as against Rs 40,520 yesterday.

Globally, the yellow metal are trading almost flat amid investors caution despite bigger than expected downward revision in US Q2 GDP.

Spot gold was little changed at USD 1,256.50 an ounce in early European trade.