Gold price gains on modest buying, silver recovers

Written by PTI | Mumbai | Updated: Dec 6 2013, 01:14am hrs
GoldStandard gold (99.5 purity) price rose by Rs 75 to close at Rs 30,825 per 10 grams (Reuters)
Gold gained further at the bullion market here today on modest buying by stockists and traders coupled with firm local demand at the existing lower levels amid ongoing marriage season.

Silver rebounded smartly on good speculative offtake.

Standard gold (99.5 purity) rose by Rs 75 to close at Rs 30,825 per 10 grams from Wednesday's closing level of Rs 30,750.

Pure gold (99.9 purity) also advanced by a similar margin to finish at Rs 30,975 per 10 grams from Rs 30,900.

Silver ready (.999 fineness) climbed by Rs 600 to end at Rs 44,850 per kg as against Rs 44,250 previously.

In overseas markets, the yellow metal closed higher as traders assessed US economic data, including growth in private sector jobs in the world's largest economy, for clues to the Federal Reserve move on easing its bond-buying stimulus programme.

In New York, spot gold for February added USD 26.40 to settle at USD 1,247.20 an ounce at the NYMEX late yesterday and silver rallied to nearly 77 cents to finish at USD 19.83 an ounce.